CORRECTED-UPDATE 1-BofA credit card defaults inch down

(Corrects headline to down instead of up; corrects first bullet point to 13.81 percent instead of 13.82 percent, recasts first paragraph to show defaults declined in July, corrects paragraph 2 to 13.81 percent in July and 13.86 in June instead of 13.82 and 13.81 respectively)

* Credit card charge-off rate inches down to 13.81 pct

* Shares fall 4 percent in premarket trading

NEW YORK, Aug 17 (Reuters) - Bank of America Corp (BAC.N) said on Monday credit card defaults inched down in July, in the first sign of stabilization in the largest U.S. bank's credit card loan portfolio in over a year.

The credit card charge-off rate -- loans the company does not expect to be repaid -- fell to 13.81 percent in July from 13.86 percent in June, according to a regulatory filing.

Bank of America's shares fell 4 percent to $16.71 in premarket trading. (Reporting by Juan Lagorio)