Capital One Credit-Card Delinquencies Fall in April

   By Saabira Chaudhuri 
 

Capital One Financial Corp. (COF) said its U.S. credit-card delinquencies fell in April from March, while its international credit-card business also showed a decline.

Capital One's 30-day delinquency rate for U.S. credit cards fell to 3.14% in April from 3.37% the prior month, according to a filing with the Securities and Exchange Commission.

At its international credit-card business, the rate dropped to 3.8% from 4.04%.

Auto-loan delinquencies were flat at 5.58%.

Charge-offs--loans banks don't expect to be able to collect--at the U.S. card business fell to 4.61% in April from 4.69% in March. Internationally, the rate jumped to 4.98% from 4.86% a month earlier. Auto financing charge-offs were down to 1% from 1.27%.

Last month, Capital One reported its first-quarter earnings fell 24%, a year after the company recorded a $594 million gain related to its acquisition of ING Direct USA.

Shares edged up 21 cents to $59.81 in recent light premarket trading. The stock has risen 16% in the past 12 months.

Write to Saabira Chaudhuri at [e-mail]

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