Although the pace of improvement is slowing, charge-offs and delinquencies on asset-backed securities backed by credit cards remain near record lows, according to Fitch Ratings. Charge-offs were at 3.91% in the first quarter, and delinquencies set a record low at 1.63%, the ratings company reported. "Credit card losses will plateau in the near term before trending higher later this year," said Michael Dean, managing director of Fitch.

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