The S&P/Experian consumer credit card default rate for July 2011 was 5.64%. This is a modest improvement of .93% from June’s credit default rate of 5.69%. The July year-over-year credit default rate improved by a staggering 31.17%.
The consumer credit default rate has been steadily improving since it’s 5 year high of 9.14% in April 2010. The default rate reversed it’s improvement in April and May this year, and it is now continuing it’s downward trend.