SEC Filings

Capital One's September Card Charge-Offs Ran At 3.66%, Auto Delinquencies At 4.64%

Capital One's monthly credit report shows domestic card delinquencies of 3.74% and auto net charge-offs of 1.62% for September.

Matteo Parrino Jonathan Ponciano

Matteo Parrino, Jonathan Ponciano

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Capital One's September Card Charge-Offs Ran At 3.66%, Auto Delinquencies At 4.64%

Capital One's domestic credit card loans produced $787 million in net charge-offs in September, an annualized rate of 3.66%, according to a monthly credit exhibit attached to an 8-K filed Tuesday. The same exhibit puts auto loans 30 or more days delinquent at 4.64% of period-end balances.

What the September exhibit shows

The company furnished the report under Item 7.01 of the 8-K, covering the month ended September 30, 2026. Net charge-offs are loans written off as uncollectible, after recoveries. The rate annualizes the month's figure against average loans held for investment.

In domestic credit cards, average loans were $257.744 billion and period-end loans were $260.252 billion. Loans 30 or more days past due but still performing totaled $9.741 billion, or 3.74% of period-end loans.

In auto, net charge-offs were $125 million, a 1.62% annualized rate on average loans of $92.450 billion. Performing loans 30 or more days delinquent were $4.314 billion, or 4.64% of period-end auto loans of $92.901 billion.

Nonperforming auto loans, meaning loans no longer accruing as performing, came to $603 million, or 0.65% of auto loans. The exhibit lists no nonperforming figure for cards.

How to read the rates

The exhibit defines each rate on a different base. Charge-off rates use average balances for the month, while delinquency and nonperforming rates use balances at month-end. A card delinquency rate and a card charge-off rate are therefore not directly comparable.

The exhibit also notes that charge-offs and their rate are affected periodically by swings in recoveries, including debt sales. For cards, loan balances include billed finance charges and fees. Amounts ultimately uncollectible reduce revenue rather than count as charge-offs, the company says.

The filing carries no earlier-month figures, so it offers no comparison here. Capital One's stock closed at $201.56 on Tuesday, according to market data; the filing was accepted by EDGAR at 4:06 p.m. ET that day.

The exhibit states that the information is furnished, not "filed," under securities law, and that it is not incorporated by reference into other filings.

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