12/5/2009 12:00:00 AM
FROM REUTERS.COM http://www.reuters.com/article/idUSN1649051520091116 Capital One Financial Corp's (COF.N) U.S. credit-card defaults fell in October, but delinquencies rose in a sign that consumers remain under stress. In a regulatory filing on Monday, Capital One said the annualized net charge-off rate -- debts the company believes it will never collect -- for U.S. credit cards fell to 9.04 percent in October from 9.77 percent in September. However, accounts at least 30 days delinquent -- an indicator of future loan losses -- increased to 5.72 percent from 5.38 percent.
In a regulatory filing on Monday, Capital One said the annualized net charge-off rate -- debts the company believes it will never collect -- for U.S. credit cards fell to 9.04 percent in October from 9.77 percent in September.
However, accounts at least 30 days delinquent -- an indicator of future loan losses -- increased to 5.72 percent from 5.38 percent.
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