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The charge-off rate of U.S. credit cards issued by banks rose to 10% in May from 9.4% in April,...

Jul. 08, 2009 8:29 AM ETBy: Eli Hoffmann, SA News Editor
The charge-off rate of U.S. credit cards issued by banks rose to 10% in May from 9.4% in April, a record high. But delinquencies (>30 days late) fell 40bps to 5.7%. Among private-label cards, chargeoffs were 12.2% and delinquencies were 6.9%.

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