Capital One Reports Increase In Charge-Offs For June

Published July 15, 2008, 1:00 a.m. EDT

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Updated July 15, 2008, 12:00 a.m. EDT

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Capital One Financial Corp. today reported that the annualized charge-off rate for its credit card portfolio in June rose 14 basis points, to 6.42% of total receivables from 6.28% in May. The rate in June of last year was 3%. The portfolio's 30-day delinquency rate was 3.85% of receivables in June, up from 3.81% in May and 2.98% in June 2007, according to a Cap One filing with the U.S. Securities and Exchange Commission. June marks the first time this year Cap One's delinquency rate rose from the previous month.

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