Capital One Financial Corp. recently reported that it saw credit card charge offs - accounts more than 90 days behind that the bank has to strike from its books because the debt is deemed uncollectable - rise for the second straight month, according to a report in the Wall Street Journal. The total rate rose from the 8.19 percent observed in August to 8.38 percent last month.
However, the rate accounts just 30 days or more behind - the company experienced fell once again in August, the report said. American delinquencies slipped to 4.53 percent from the 4.56 seen in August.
Capital One is typically the first major credit card lender to issue its charge off and delinquency rates every month, and those numbers usually serve as a rough baseline that can be expected across all lenders.
