By The Associated Press

(AP) - EARNINGS FALL: Discover Financial Services' second-quarter net income fell 10 percent to $532 million, or $1 a share, compared with a profit of $593 million, or $1.09 a share, a year earlier.

MORE CARD USE: Sales volume on Discover's namesake cards rose 5 percent to $26.1 billion. Credit card balances grew nearly 4 percent to $46.6 billion.

PAYING ON TIME: The delinquency rate for loans over 30 days past due declined to 1.91 percent from 2.79 percent. The rate of charge-offs _ loans written off as uncollectible _ fell to 2.79 percent from 5.01 percent. Discover called both "historic lows."

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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