Credit card delinquency (60+ days) dropped slightly in November and charge-offs among credit card-backed securities also declined. For November, delinquency in the U.K. dipped to 3.3%, compared to 3.4% in the prior month. Charge-offs declined by 50 basis points from October to 6.3% for November. According to FitchRatings, delinquency reached a historical high in April 2007 of 4.1% in the U.K. The Fitch monthly payment rate index fell to 17.9% in November, a month-on-month decrease of 90 basis points. The Bank of England cut the the Bank base rate by 25 basis points to 5.5% in December and decided to maintain the same rate in January.