Credit card delinquencies fell for the first time in five months in April, but default rates continued to rise, according to Fitch Ratings. "At this point, any sign of a pullback from the rate of acceleration in delinquencies is welcome news," Fitch Managing Director Michael Dean said. "Whether it develops into a trend remains to be seen and since it will take time to work through, we expect continued increases in chargeoffs over the next few months."

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