The credit outlook at the top six card issuers is getting brighter, with both chargeoffs and delinquencies falling again in July.

The rate of credit losses in Capital One Financial Corp.'s U.S. card portfolio declined for a fourth straight month, tumbling 115 basis poiants from June to 8.13% — the lowest chargeoff rate since February 2009. The percentage of accounts 30 days or more past due to total accounts fell 13 basis points to 4.66%.

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