Capital One credit card charge-offs fall, delinquencies rise in June

Capital One Financial’s (NYSE:COF) turned in mixed credit card metrics in June, according to an 8-K filing on Tuesday.

Capital One’s card delinquency rate rose to 3.92% in June from 3.85% in May. That compared with 4.14% in June 2024. Before the pandemic, in June 2019, the delinquency rate was 3.40%.

Its net charge-rate of 5.29% dipped from 5.57% in the previous month and remained below June 2024’s 5.93%. The rate still remains well above its 4.55% level in June 2019.

Capital One (NYSE:COF) closed its acquisition of Discover Financial on May 18. It disclosed credit card metrics for June 2025, but not May 2025.

Discover card delinquency rate of 3.60% increased from 3.50% in April and was slightly lower than 3.69% a year ago. In June 2019, that metric stood at 2.34%.

Discover card’s net charge-off rate of 4.96% in June edged down from 5.04% in April and was lower than 5.67% in June 2024. Its pre-pandemic level was 3.54%.