Capital One card delinquencies rise in October

NEW YORK Nov 17 (Reuters) - Capital One Financial Corp (COF.N), one of the largest issuers of MasterCard and Visa credit cards, on Monday said credit quality deteriorated in several areas of lending in October, a month when stocks worldwide fell and recession fears grew.

In a regulatory filing, the McLean, Virginia-based company said the annual net charge-off rate for U.S. credit cards increased to 6.54 percent in October from 6.34 percent in September, while the rate for loans at least 30 days delinquent rose to 4.48 percent to 4.20 percent.

Net charge-offs reflect loans that a lender does not expect to be repaid.

In auto loans, the charge-off rate increased to 5.50 percent in October from 4.98 percent in September, while the delinquency rate declined to 9.14 percent from 9.32 percent.

In international operations, the charge-off rate rose to 6.15 percent in October from 5.87 percent in September, while the delinquency rate rose to 5.30 percent from 5.24 percent. (Reporting by Jonathan Stempel; Editing by Steve Orlofsky)