The latest regulatory filing from Capital One Financial revealed that the company saw instances of accounts it had to strike from its records as being uncollectable slip once again in March, according to a report from Dow Jones Newswires. During the month, charge offs fell to 5.87 percent of all accounts, down from the 5.91 percent observed in February. Typically, charge offs come when an account falls to 90 days or more delinquent in payments.
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Similarly, the company also saw instances of 30-day delinquencies fall in March, though the decline was more significant than those for charge offs, the report said. In all, 3.59 percent of the company’s accounts were considered delinquent, down from 3.83 percent in February.
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Since the beginning of the year, the credit card lender – which is typically the first in the nation to report its charge off and delinquency statistics every month – has seen charge offs fluctuate slightly, rising and falling from one month to the next, while delinquencies have continued to slide, the report said.
The improvement in delinquencies may be a good sign for the lender, as these are often viewed by financial experts as being indicative of future charge off rates.