The average charge-off rate on outstanding receivables for the nation’s credit card issuers in September fell sharply to 8.9%, down 113 basis points from 10.03% in August and down 182 basis points from 10.72% a year earlier, Moody’s Investor Service reported Oct. 22.

The delinquency rate in September was 4.65%, down 132 basis points from 5.97% a year earlier, Moody’s said.

 The firm earlier this month reported that outstanding receivables for the six largest credit card issuers in the United States declined during the third quarter ended Sept.30 compared with the same period last year.

 The declines in issuers’ charge-off rates during the quarter varied. American Express Co. reported the largest charge-off rate change, declining 306 basis points to 6.33% from 9.39%. Bank of America Corp.’s rate declined 272 basis points, to 11.84% from 14.56%, while Discover Financial Services’ rate fell 101 basis points, to 8.63% from 9.64%.

 Citigroup Inc.’s charge-off rate fell 80 basis points, to 9.97% from 10.77%, and Capital One Financial Corp.’s rate declined 54 basis points, to 10.21% from 10.75%. JPMorgan Chase & Co. had the smallest rate decline during the quarter, dropping 29 basis points to 7.97% from 8.26%.

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