On Air Now

Current Show

Coast to Coast AM   12:00 AM - 5:00 AM

Call Coast to Coast now at 1-800-825-5033

Show Info »

Upcoming Shows

Program Schedule »

Listen

Listen Live Now » 590 AM Kalamazoo, MI

Weather

Current Conditions(Kalamazoo,MI 49001)

More Weather »
45° Feels Like: 41°
Wind: W 7 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Today

Rain 60°

Tonight

Clear 42°

Tomorrow

Mostly Sunny 59°

Alerts

Capital One credit card defaults rise in September

</head> <body> <p>NEW YORK (Reuters) - Capital One Financial Corp's <COF.N> U.S. credit-card defaults rose in September as more Americans lost their jobs, in another sign that consumers remain under stress.</p> <p>In a regulatory filing on Thursday, Capital One said the annualized net charge-off rate -- debts the company believes it will never collect -- for U.S. credit cards had risen to 9.77 percent in September from 9.32 percent in August.</p> <p>Accounts at least 30 days delinquent -- an indicator of future loan losses -- increased to 5.38 percent from 5.09 percent.</p> <p>JPMorgan Chase & Co <JPM.N>, Bank of America Corp <BAC.N>, Citigroup Inc <C.N>, American Express Co <AXP.N> and Discover Financial Services <DFS.N> plan to report the monthly performance of their credit card portfolios later on Thursday.</p> <p>Credit card defaults usually track unemployment, which rose to a 26-year high of 9.8 percent in September. The jobless rate is expected to peak at more than 10 percent by year-end.</p> <p>Considering the trend of unemployment and the increase in delinquencies, analysts have estimated credit card losses will keep rising in coming months.</p> <p>Credit Suisse analyst Moshe Orenbuch believes loss rates will not improve for more than a year, he wrote in a note to clients on Wednesday night.</p> <p>"Call us old-fashioned, but it seems that if significantly more people are out of work (and that number is climbing at an annual rate of more than 3 million) that the risk of higher credit losses is increasing," Orenbuch said.</p> <p>Orenbuch said he expected credit card losses to peak in the fourth quarter and remain elevated in 2010.</p> <p>For U.S. auto loans, Capital One's charge-off rate went up to 4.58 percent in September from 4.31 percent in August, and the delinquency rate inched up to 9.52 percent from 9.42 percent.</p> <p>In international operations, including Canada and Britain, the charge-off rate rose to 9.24 percent in September from 8.60 percent in August, but the delinquency rate fell to 6.63 percent from 6.67 percent.</p> <p>(Reporting by Juan Lagorio; Editing by Lisa Von Ahn)</p> </body> </html> </div><!-- end article-body --> </div><!-- end aticle-body-wrapper --> <aside> <ul class="social-share-btns clearfix"> <li><g:plusone size="medium" href="http://wkzo.com/news/articles/2009/oct/15/capital-one-credit-card-defaults-rise-in-september/"></g:plusone></li> <li><div id="fb-root"></div><script src="http://connect.facebook.net/en_US/all.js#appId=112315878855956&xfbml=1"></script><fb:like href="http://wkzo.com/news/articles/2009/oct/15/capital-one-credit-card-defaults-rise-in-september/" action="recommend" send="true" layout="button_count" width="150" show_faces="false" font=""></fb:like></li> <li><a href="http://twitter.com/share" class="twitter-share-button" data-url="http://wkzo.com/news/articles/2009/oct/15/capital-one-credit-card-defaults-rise-in-september/" data-text="Capital One credit card defaults rise in September" data-count="horizontal">Tweet</a><script type="text/javascript" src="http://platform.twitter.com/widgets.js"></script></li> </ul><!-- end social-share-btns --> </aside> </div><!-- end article-container --> <section class="clearfix text-ad-container"><div class="text-ad"></div><div class="text-ad"></div><div class="text-ad"></div></section> <div id='taboola-below-main-column'></div> <script type="text/javascript"> window._taboola = window._taboola || []; _taboola.push({mode:'thumbs-2r', container:'taboola-below-main-column', placement:'below-main-column'}); </script> <div id='taboola-text-2-columns'></div> <script type="text/javascript"> window._taboola = window._taboola || []; _taboola.push({mode:'text-links-5r', container:'taboola-text-2-columns', placement:'text-2-columns'}); </script> <script> window._taboola = window._taboola || []; _taboola.push({flush:true}); </script> <section class="comment-container"> <h1 class="h2 visuallyhidden">Comments</h1> <a href="/news/articles/2009/oct/15/capital-one-credit-card-defaults-rise-in-september/#disqus_thread"></a> <div id="disqus_thread" class="section-widget"></div> <script type="text/javascript"> var disqus_shortname = 'wkzo'; var disqus_title = 'Capital One credit card defaults rise in September'; var disqus_url = 'http://wkzo.com/news/articles/2009/oct/15/capital-one-credit-card-defaults-rise-in-september/'; (function() { var dsq = document.createElement('script'); dsq.type = 'text/javascript'; dsq.async = true; dsq.src = 'http://' + disqus_shortname + '.disqus.com/embed.js'; (document.getElementsByTagName('head')[0] || document.getElementsByTagName('body')[0]).appendChild(dsq); })(); </script> </section><!-- end comment-container --> </article> </div><!-- end of col-1 --> <div id="col-2"> <form class="section-search-form clearfix" method="get" action="/search/"> <fieldset class="clearfix"> <input class="section-search" type="text" rel="Search News" name="q" placeholder="Search News" /> <input class="section-search-submit" type="image" alt="Search" src="http://static.mwcradio.com/images/icons/section-search.gif" /> </fieldset> </form> <div class="ad-300x250"></div> <aside class="aside-module top-stories"> <h1>Top Stories</h1> <ul class="unstyled-list single-col-list"> <li><a href="/news/articles/2014/apr/25/memorial-services-held-for-dr-teleka-patrick/" title="Full Article: Memorial Services held for Dr. Teleka Patrick">Memorial Services held for Dr. Teleka Patrick</a></li> <li><a href="/news/articles/2014/apr/25/west-side-construction-could-impact-your-commute/" title="Full Article: West side construction could impact your commute">West side construction could impact your commute</a></li> <li><a href="/news/articles/2014/apr/25/car-theft-investigation-underway-in-kalamazoo/" title="Full Article: Car theft investigation underway in Kalamazoo ">Car theft investigation underway in Kalamazoo </a></li> <li><a href="/news/articles/2014/apr/24/kalamazoo-marathon/" title="Full Article: Kalamazoo Marathon taking registrations online through April 30th">Kalamazoo Marathon taking registrations online t...</a></li> <li><a href="/news/articles/2014/apr/24/815-minimum-wage-proposal-introduced-in-lansing/" title="Full Article: $8.15 minimum wage proposal introduced in Lansing">$8.15 minimum wage proposal introduced in Lansing</a></li> </ul> </aside> <div class="text-ad"></div> <nav class="aside-module"> <h1>News Sections</h1> <ul class="unstyled-list two-col-list clearfix"> <li><a href="/news/sections/local/" title="Local News Section">Local</a></li> <li><a href="/news/sections/state/" title="State News Section">State</a></li> <li><a href="/news/sections/national/" title="National News Section">National</a></li> <li><a href="/news/sections/world/" title="World News Section">World</a></li> <li><a href="/news/sections/localsports/" title="Local Sports News Section">Local Sports</a></li> <li><a href="/news/sections/sports/" title="National Sports News Section">National Sports</a></li> <li><a href="/news/sections/politics/" title="Politics News Section">Politics</a></li> <li><a href="/news/sections/business/" title="Business News Section">Business</a></li> <li><a href="/news/sections/health/" title="Health News Section">Health</a></li> <li><a href="/news/sections/science/" title="Science News Section">Science</a></li> <li><a href="/news/sections/technology/" title="Technology News Section">Technology</a></li> <li><a href="/news/sections/entertainment/" title="Entertainment News Section">Entertainment</a></li> </ul> </nav> <div class="text-ad"></div> <div class="ad-300x250"></div> <aside id="recentcomments" class="aside-module dsq-widget sidebar-comments"> <h1 class="dsq-widget-title">Recent Comments</h1> <script type="text/javascript" src="http://wkzo.disqus.com/recent_comments_widget.js?num_items=3&hide_avatars=0&avatar_size=32&excerpt_length=200"></script> </aside> <div class="text-ad"></div> </div><!-- end col-2 --> </div><!-- end page-content-wrapper-inner --> </div><!-- end page-content-wrapper-outer --> <div id="site-footer-wrapper"> <footer id="site-footer" class="clearfix"> <ul class="footer-list footer-bucket"> <li><a href="http://static.mwcradio.com/pdf/footer-files/privacy.pdf" title="Privacy Policy">Privacy Policy (PDF)</a></li> <li><a href="http://static.mwcradio.com/pdf/footer-files/termsofuse.pdf" title="Terms of Use">Terms of Use (PDF)</a></li> <li><a href="http://static.mwcradio.com/pdf/footer-files/contestrules.pdf" title="Contest Rules">Contest Rules (PDF)</a></li> <li><a href="http://static.mwcradio.com/pdf/footer-files/contest-rules-addendumC.pdf" title="Contest Rules - Addendum C">Contest Rules - Addendum C (PDF)</a></li> </ul> <ul class="footer-list footer-bucket"> <li><a href="/advertise/" title="Advertise With Us">Advertisers</a></li> <li><a href="http://www.midwestcareers.com/" title="Midwest Careers">Employment</a></li> <li><a href="/eeo/" title="EEO">EEO</a></li> </ul> <div class="footer-bucket"> <ul class="footer-list footer-social-list"> <li> <a href="http://facebook.com/WKZO590AM" title="AM 590 WKZO on Facebook"> <img src="http://static.mwcradio.com/images/icons/facebook20.png" alt="Facebook" /> Facebook </a> </li> <li> <a href="http://twitter.com/590kzonews" title="AM 590 WKZO on Twitter"> <img src="http://static.mwcradio.com/images/icons/twitter20.png" alt="Twitter" /> Twitter </a> </li> </ul><!-- end social links --> <ul class="footer-list footer-bucket"> <li> <a href="https://play.google.com/store/apps/details?id=com.midwestcommunications.wkzoam&feature=search_result#?t=W251bGwsMSwyLDEsImNvbS5taWR3ZXN0Y29tbXVuaWNhdGlvbnMud2t6b2FtIl0." title="Download Our Android App"> <img src="http://static.mwcradio.com/images/icons/android20.png" alt="Android" /> Listen on Android </a> </li> <li> <a href="https://itunes.apple.com/us/app/wkzo-am-590-fm-96.5/id634060235?mt=8" title="Download Our iOS App"> <img src="http://static.mwcradio.com/images/icons/apple20.png" alt="Apple" /> Listen on iPhone/iPad </a> </li> </ul> </div> <ul class="footer-list footer-bucket contact-info"> <li>© 2014 AM 590 WKZO</li> <li>Call Letters: WKZO</li> <li><span class="frequency-location">590 AM Kalamazoo, MI</span></li> <li>Studio Line 1: 269-382-4280</li> <li>Text Us at 80373</li> <li><a href="/contact-us/" title="Contact Us">Contact Us</a></li> </ul> </footer> </div><!-- end footer-wrapper --> <script src="https://ajax.googleapis.com/ajax/libs/mootools/1.4.5/mootools-yui-compressed.js"></script> <script src="http://static.mwcradio.com/js/mootools-more-1.4.0.1.js"></script> <script src="http://static.mwcradio.com/apps/nowplaying/js/jug-application.js"></script> <script src="http://content.aimatch.com/swfobject.js"></script> <script src="https://apis.google.com/js/plusone.js"></script> <script src="http://static.mwcradio.com/js/mwc.js?5"></script> <script src="http://static.mwcradio.com/datepicker/Locale.en-US.DatePicker.js"></script> <script src="http://static.mwcradio.com/datepicker/Picker.js"></script> <script src="http://static.mwcradio.com/datepicker/Picker.Attach.js"></script> <script src="http://static.mwcradio.com/datepicker/Picker.Date.js"></script> <!--[if lt IE 7 ]> <script src="//ajax.googleapis.com/ajax/libs/chrome-frame/1.0.2/CFInstall.min.js"></script> <script>window.attachEvent("onload",function(){CFInstall.check({mode:"overlay"})})</script> <![endif]--> <script src="http://static.mwcradio.com/js/lightface/LightFace.js"></script> <script src="http://static.mwcradio.com/apps/scoop/js/article_details.js" type="text/javascript"></script> </body> </html>