Capital One auto loan delinquencies rise in July

NEW YORK (Reuters) - Capital One Financial Corp <COF.N>, one of the largest issuers of MasterCard and Visa credit cards, said on Friday more borrowers are falling behind on their auto loans, while credit metrics in its U.S. credit card portfolio were more stable.

In a regulatory filing, the McLean, Virginia-based company said the annual net charge-off rate in auto finance rose for a third straight month, increasing to 4.67 percent in July from 4.26 percent in June. Net charge-offs reflect loans that a lender does not expect to be repaid.

The rate of auto loans at least 30 days late rose for a fifth straight month, to 8.33 percent in July from 7.62 percent in June.

Capital One said in U.S. credit cards, the charge-off rate fell to 6.08 percent in July from 6.42 percent in June, while the delinquency rate rose to 3.96 percent from 3.85 percent.

In international operations, the charge-off rate rose to 6.55 percent in July from 5.36 percent in June, while the delinquency rate fell to 5.22 percent from 5.35 percent.

(Reporting by Jonathan Stempel; editing by John Wallace)