Sub-prime issuers continue to struggle in a difficult environment as Atlanta-based CompuCredit reported third quarter earnings of $14.9 million compared to $22.2 million for 3Q/00. The issuer of the ‘Aspire VISA’ card also reported significant increases in delinquency and charge-offs compared to last year, but compared to the second quarter, the situation has stabilized as the company is purging inactive account to improves its risk profile. The pro forma net charge-off rate was 14.6% in the third quarter, unchanged from the second quarter, but much higher than 3Q/00’s 11.0% rate. At Sept 30th, the 60+ day managed delinquency rate was 10.9%, compared to 10.6% for the second quarter, and 8.8% one year ago.The company added 183,000 new accounts in the third quarter, up from 167,000 in the second quarter. During that same period, the company purged 182,000 inactive accounts while experiencing normal attrition of 138,000 accounts for a net reduction of 137,000 accounts overall. Total credit card loans stood at $1,804,631 compared to $1,321,128 for 3Q/00, a 36.6% increase. For complete current and historical data on CompuCredit’s credit card portfolio visit CardData ([www.carddata.com]).