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Card issuers see delinquencies rise in August

 Many U.S. credit card issuers saw delinquencies risein August while charge-off trends were mixed during the month.

Among large issuers, only JPMorgan Chase & Co. saw the delinquency rate decline,to 1.09% in August from 1.13% in July.

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Portfolio yields and charge-offs were mixed for card issuersin August. The annualized net loss rate declined at , andJPMorgan, while CitigroupInc.'s net loss rate increased to 2.61% from 2.31% in July.

American Express saw an increase in its net loss rate inAugust. The annualized default rate, net of recoveries, in its master trustincreased to 1.05% from 0.99% in the previous month. Capital One's annualizednet loss rate rose to 1.83% from 1.71%.

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American Express and Capital One also provide delinquencyand charge-off statistics for certain segments within their card businesses.

For American Express' U.S. consumer services segment, thenet write-off rate, based on principal only, 1.6% in August, unchanged from July.The delinquency rate for the segment also remained flat at 1.1%.

The net write-off rate in the U.S. small-business segment,based on principal only, was 1.6% in August, up from 1.5% in July. Thedelinquency rate for the segment was 1.1%, remaining the same from the previousmonth.

Capital One's domestic card segment a 30-plus-day performing delinquencyrate of 3.52% in August, compared with 3.32% in July. The annualized netcharge-off rate for the segment decreased to 3.72% from 3.81%.

The 30-plus-day performing delinquency rate in Capital One'sinternational card business declined slightly to 3.30% from 3.31% in theprevious month, while the annualized net charge-off rate rose to 3.65% from3.64%. Capital One's auto finance segment saw an increase in its 30-plus-day performingdelinquency rate to 5.97% from 5.80% and the annualized net charge-off rate forthe segment rose to 1.95% from 1.71%.

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Click here for the underlying data for credit card master trust yields, net charge-offs and delinquencies.

The monthly performance of the trust is reported in the 10-D filing, which can be accessed under the Documents section of a company's briefing book page on the SNL website.