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Defaults trend up, excess spread healthy

According to Moody's Investors Service's most recent figures, credit card charge-offs experienced their first double-digit percentage increase on an absolute, year-over-year basis, since 1997.

The figure jumped in April to 6.29%, a 13.7% increase over last April's 5.53%, and an 8.6% increase over March's 5.79%.

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