Monday, 15 June 2009

Credit card write-offs approaching 10%

According to a filing with the SEC Capital One Financial Corporation (COF) revealed the following in its Monthly Charge-off and Delinquency Statistics. These are very up to date numbers as they were compiled as of and for the month ended May 31, 2009.

On their US cardholders the annualized net charge-off rate was 9.41%
On their international cardholders the annualized net charge-off rate was 9.77%

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