NEW YORK — The Standard and Poor's/Experian Consumer Credit Default Indices discovered that auto loan defaults climbed for the second consecutive month from 1.96 percent in July to 2.05 percent in August.

"Except for auto loans, the consumer credit default indices show declining default rates since April 2010," explained David Blitzer, managing director and chairman of the S&P Index Committee. "In contrast, auto loan default rates have now risen for two months in a row but remain below the levels seen at the start of the year."

Looking at the other trends, S&P/Experian found that default rates declined for second mortgages to 2.4 percent after last month's rise to 2.8 percent. Meanwhile, first mortgage and bank card loans dropped from July to 3.2 percent and 7.9 percent, respectively.

"First and second mortgages show downward trends dating from May 2009, while bank cards have seen diminishing default rates since April 2010," Blitzer highlighted.

He went on to say, "The improvements seen in most consumer credit categories echo other consumer credit trends, which show declines in consumer debt levels following the 2007-2009 financial crisis for most types of loans."

When breaking results down by major cities, the companies indicated that Los Angeles had the largest decrease in defaults last month by 11.8 percent, followed by New York, which declined by 9.01 percent.

On the other hand, Dallas was the only area of the five to show an increase by 3.43 percent. Miami continues to decline by 35.59 percent over the last 12 months.