Credit card chargeoff rates are on track to finish the year below the levels at which they entered the recession.

At Bank of America Corp., whose loss rates outran those of the other five largest domestic issuers during the downturn, chargeoffs on securitized receivables are headed toward a drop of 1.6 percentage points from the second quarter to an average of 6.1% for the fourth quarter, if the pace at which late accounts have been written off as uncollectible holds steady.

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