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Business Briefing / Consumer Finance

Delinquencies on credit cards rise

January 07, 2009|TIMES STAFF AND WIRE REPORTS

Credit card late payments and charge-offs rose in November, according to Standard & Poor's.

Charge-offs increased to 6.7%, a 44% jump compared with November 2007, S&P said. Payments more than 30 days late were at 5.1%, up 20% from a year earlier, the New York rating firm said.

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