Capital One U.S. Card Delinquencies Edge Higher

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By Trey Thoelcke Published
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Delinquencies at Capital One Financial Corp.’s (NYSE: COF) U.S. credit-card business rose in August from the month earlier, while charge-offs slipped, according to a filing with the Securities and Exchange Commission.

The McLean, Va.-based bank holding company said the 30-day delinquency rate for U.S. credit cards rose from 3.09% in July to 3.37% in August. The rate at its international credit-card business fell to 4.77% from 4.78% a month earlier. Auto-loan delinquencies were up to 5.79% from 5.75%.

Charge-offs, or loans banks do not expect to be able to collect, at Capital One’s U.S. card business shrank to 2.58% from 2.62% a month earlier. Internationally, the rate grew to 5.43% from 4.97% a month earlier. And auto financing charge-offs rose to 1.84% from 1.54%.

The full filing is available here.

Earlier this month, it was reported that ING Groep N.V. (NYSE: ING) would sell all of its approximately 54.0 million shares in Capital One in an underwritten public offering. ING acquired the shares as part of a deal in which Capital One ING Direct, its digital banking arm.

Capital One closed Friday at $59.37 per share, in a 52-week range of $36.33 to $59.74. ING ended the week at $8.98, in a 52-week trading range of $5.51 to $10.43.

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About the Author Trey Thoelcke →

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.

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