Capital One’s Net Charge-Off Rate Up For January (COF)

Credit card default rate for Capital One (NYSE: COF) rose in January. This indicates that the consumer is still under pressure. 30-days delinquent accounts rose up from 5.78 percent to 5.8 percent. These accounts indicate potential payment default.

Capital One’s (COF) annualized net charge-off rate increased to 10.41 percent in January. The rate was 10.14 percent for the preceding month. However, Charge-off rate for auto loans decreased from 5.68 percent to 4.27 percent. Charge-off rates for Capital One’s international operations were also down to 9.03 percent from 9.58 percent.