Capital One credit card charge-offs down but delinquencies up

Capital One Financial Corp’s U.S. credit-card defaults fell in October, but delinquencies rose in a sign that consumers remain under stress.

In a regulatory filing on Monday, Capital One said the annualized net charge-off rate — debts the company believes it will never collect — for U.S. credit cards fell to 9.04 percent in October from 9.77 percent in September.

However, accounts at least 30 days delinquent — an indicator of future loan losses — increased to 5.72 percent from 5.38 percent.