Fitch Ratings said that in September credit card charge-offs for securitized accounts dropped to lows only seen once before in the 23-year history of the ratings agency’s indices.  

The Fitch Prime Credit Card Charge-off Index dropped to 3.12% for the September collection period. The charge-off rate now stands two basis points above the all-time low for this index, reached in March 2006.  Charge-offs fell 6.3% from the prior month and is down 25% year-over-year.

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