Cap1 delinquency rates rise

Discussion in 'Credit Talk' started by cap1sucks, Dec 16, 2008.

  1. cap1sucks

    cap1sucks Well-Known Member

    NEW YORK, Dec 15 (Reuters) - Capital One Financial Corp (COF.N: Quote, Profile, Research, Stock Buzz), one of the largest issuers of MasterCard and Visa credit cards, said on Monday credit quality deteriorated in several areas of lending in November, as unemployment grew and the economy eroded. In a regulatory filing, the company said the annual net charge-off rate for U.S. credit cards increased to 6.98 percent in November from 6.54 percent in October, while the rate for loans at least 30 days delinquent rose to 4.70 percent to 4.48 percent. Net charge-offs reflect loans that a lender does not expect to be repaid. In auto loans, the charge-off rate increased to 5.60 percent in November from 5.50 percent in October, while the delinquency rate rose to 9.48 percent from 9.14 percent.

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  2. jlynn

    jlynn Well-Known Member

    I was in the local JP court today (to get something notarized ok!!), and saw two Complaints being brought by Cap One.

    You would have to understand, that I live in a community of 3500 in the middle of nowhere TX. I was surprised.
  3. jjgross

    jjgross Well-Known Member

    And alway's remember were here to help if you are in a bind and can't make a payment.They should change it to.And remember were here to screw you,cause we don't care if you lost both leg's crawl to the mail box and mail that payment remember were here to get you back on your feet.LOL

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