McLean-based Capital One Financial Corp said net credit card charge-offs in the U.S. were 9.68 percent on an annual basis in April, down from 10.87 percent in March, according to a regulatory filing.
The 30-day-plus delinquency rate was 5.07, compared with 5.30 percent in March.
Charge-offs, which are loans written off as uncollectable, dropped in Capital One’s auto finance division to 1.75 percent on an annualized basis, down from 2.10 percent in March.
Charge-offs on international cards were down to an annualized 8.60 percent from 9.40 percent with a 30-day-plus delinquency rate of 6.28 percent.
Capital One (NYSE: COF) purchased Chevy Chase Bank in early 2009 and is going to officially re-brand Chevy Chase’s 247 branches in the fall. Capital One is the nation’s third largest issuer of Visa Inc. credit cards.
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Tags: Capital, Credit Card