HF Financial Corp. in Sioux Falls, S.D., is shutting down its three-year-old credit card business after delinquencies forced the thrift company to charge off millions of dollars in fiscal 1999.

The company charged off $6.5 million in loans in the year that ended June 30, 75% of which were related to its subprime credit card business. That was a ninefold increase from the $727,000 charged off in fiscal 1998, according to a recent filing with the Securities and Exchange Commission. HF Financial, which stopped processing credit card applications last March, said chargeoffs in the second half of calendar 1999 could be as high as $7.6 million.

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