Posted on 04/15/2010 5:55:11 AM PDT by mlocher
Capital One Financial Corp's U.S. credit-card defaults rose in March in a sign that consumers may still be under stress.
In a regulatory filing, Capital One said the annualized net charge-off rate -- debts the company believes it will never collect -- for U.S. credit cards rose to 10.87 percent in March from 10.19 percent in February.
However, accounts at least 30 days delinquent -- an indicator of future loan losses - declined to 5.30 percent from 5.51 percent.
For U.S. auto loans, Capital One's charge-off rate was 2.10 percent in March, down from 2.50 percent in February, and the delinquency rate fell to 7.58 percent from 7.99 percent.
In credit card international operations, including Canada and Britain, the charge-off rate increased to 9.40 percent from 8.07 percent, but the delinquency rate was lower at 6.39 percent from 6.68 percent.
(Excerpt) Read more at news.fidelity.com ...
This booming recovery is great!
What’s in your wallet?
Nothing, apparently. That’s the problem.
Waxman’s gonna haul Capital One into congressional hearings if they continue filing these required disclosures.
You’re only half joking. I am certain that a Populist Jihad against credit card companies will be a big part of the Dems fall playbook.
What can C One do if you just don’t pay your cc. It’s all unsecured debt. Probably just call until you disconnect the phone. 67 soc sec receiver wants to know.
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