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Alliance Data Private-label Card Defaults Rise

Stock quotes in this article: ADS  

DALLAS (AP) — Credit card services provider Alliance Data Systems Corp. said Friday that defaults on its private-label credit cards rose in April.

Net chargeoffs, or the amount of loans written off as unpaid, as a percentage of average managed receivables, increased to 9.7 percent from 8.9 percent in March.

The Dallas-based company said the April loss rate is consistent with its expectations for a mid-9 percent loss rate for the quarter. ...

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