Capital One Credit Card Charge-Off Rate Tops 5% In November

By Cara LombardoFeaturesDow Jones Newswires

Capital One Financial Corp.'s (COF) net charge-off rate for domestic credit cards rose in November while it dropped for auto loans, according to a company filing Friday.

Net charge-off rates indicate the amount of debt a company believes it won't be able to collect.

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Capital One's credit card charge-off rate rose to 5.16% in November from 4.7% a month earlier. The auto loan charge-off rate declined to 2% from 2.21%. The company's credit card portfolio is about twice the size of its auto loan portfolio.

The company said excluding the impact from its September purchase of credit card assets and related liabilities of World's Foremost Bank, the credit card charge-off rate would have been 5.47%.

Write to Cara Lombardo at cara.lombardo@wsj.com

(END) Dow Jones Newswires

December 15, 2017 07:13 ET (12:13 GMT)