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 Capital One charge-offs up, delinquencies downCredit card issuer Capital One says that charge-offs in its U.S. card business rose in April, while delinquencies fell. In an 8-K filing with the Securities and Exchange Commission, Cap One said the annualized net charge-off rate in its U.S. card division (which includes domestic credit cards) increased to 6.08 percent last month. That was up from 6.07 in March and 5.5 percent in February. Charge-offs are the value of uncollected credit card balances removed from the books and charged against a bank's loss reserves. The rate is the amount of charge-offs divided by the average outstanding credit card balances owed to the issuer. Meanwhile, the amount of U.S. card loans 30 days past due lessened, with credit card delinquencies falling in April to 3.9 percent. Last month's delinquency rate was down from 4.04 percent in March and 4.21 percent in February. Previously, Cap One's charge-offs had advanced in the first quarter of 2008 as delinquencies declined. 
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I normally pay my monthly balance on line on or before the due dates to avoid penalty and finance charges. As I have to be out of town on April 8-10, 08, on April 8th I tried several times to make the on line payment. As their server was down, the system will not let me in to make payment. On April 10th upon my return I made the on line payment. I thought I made it in time as my payment is due only on April 10th. But when i received my May 08 statement, I was shocked to see penalty and finance charges of about $54 levied. Upon enquiry I found out that my payment was delayed by 43 minutes. Despite my repeated explanations that their system was down on April 8th to accept my payment, they refused to waive neither the penalty nor the finance charges. Further to add insult to the injury they charged me another $23 and their explanation 'read the contract'. I am really upset that CapitalOne charged me about $77 for making the payment @3:43 PM instead of @3:00 PM. Is there any recourse for me???? I'd appreciate your responses.