U.S. credit card delinquencies fell in October to the lowest levels of the year as more people were able to restart payments on their consumer debt, The Wall Street Journal reported, citing company filings.
Con…
Capital One (COF) said its credit card defaults rose slightly in September, a sign that more people may be struggling to repay their debts.
Capital One said its annualized net charge-off rate, a measure of the debts the company does not expect to ever be paid off, was 8.38% in September, Reuters reported. The rate was 8.19% in August.
Capital One is the third-largest U.S. issuer of…
Continue reading Capital One Says Credit Card Defaults Rose Slightly in September
Capital One Says Credit Card Defaults Rose Slightly in September originally appeared on DailyFinance on Fri, 15 Oct 2010 08:29:00.
The financial media loves to pluck struggling analysts from obscurity and propel them to fame on the backs of a few good calls, then shoot them full of arrows at them when their predictions start to fail. And inevitably, those …
Four of the top six credit card issuers reported an increase in the number of debts they they wrote off as uncollectable in August. But there were a few positive signs as well.
Continue reading Uncollectable: B…