FleetBoston reported yesterday that credit card outstandings dipped below $15 billion in the first quarter, a 2.5% decline over the first quarter of 2002. Since the first of this year Fleet’s outstandings have decline nearly $1.4 billion due to portfolio sales, lower balance transfers, a decline in cash advances, and other normal seasonal factors. Delinquency and charge-offs climbed in the first quarter mainly due to the denominator effect. For the first quarter, the delinquency rate was 4.37% compared to 3.97% one year ago. Delinquency at the end of the fourth quarter was 4.12%. Charge-offs for the first quarter hit 6.13% compared 5.42% one year ago. Charge-offs for the fourth quarter were 5.16%. Fleet also reported that first quarter credit card revenues declined 9% to $156 million. For complete details on FleetBoston’s first quarter results visit CardData ([www.carddata.com]).