Capital One Financial Corp. (NYSE: COF) has seen bad debt from their credit card loans rise in the month of September, pushing their charge-off annualized rate to 9.77 percent in the month following an August that placed the charge-off annualized rate at 9.32 percent.
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In addition to an increase in charge-off from bad debt in credit card loans Capital One Financial Corp has also seen 30-day credit card delinquencies climb to 5.38 percent in September, up from 5.09 percent in August and 4.83 percent in July.
Of Capital One Financial Corp.’s three lending units the auto-finance unit displayed the highest delinquency rate at 9.24 percent. While the auto-finance unit has the highest delinquency rate it also has the lowest charge-off rate at an annualized rate of 4.58 percent.
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