Credit card delinquencies fell to 2.93% in the second quarter, the lowest level since 2001, according to the American Bankers Association.

This marks the first time the rate has been below 3 percent in that 11-year period. The rate is down from 3.08 percent in the first quarter. Fitch Ratings  said  in a Oct. 4, report that 60-day delinquency index gapped down to 1.69%, a drop of seven basis points from August.

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