IMGCAP(1)]
Capital One Financial Corp. today reported that its U.S. credit card segment's net charge-off rate increased to 9.83% of managed receivables in July from 9.73% the previous month and from 9.41% in May. McLean, Va.-based Cap One's 30-day delinquency rate increased to 4.83%, according to a company filing with the U.S. Securities and Exchange Commission, reversing four consecutive months of decreases. The delinquency rate was 4.77% in June. Cap One last month reported that its U.S. card unit's managed net charge-off rate for the second quarter was 9.23% of receivables, up 297 basis points from 6.26% during the same period a year ago but up only 84 basis points from the first quarter's charge-off rate of 8.39% (CardLine, 7/24). The 30-day delinquency rate on card loans was 4.77%, up 92 basis points from the same period a year ago but down 31 basis points from the first quarter's 30-day delinquency rate of 5.08%.
