Consumers with Capital One credit cards seem to be a responsible lot with most of them paying off their dues on time without any late payments or defaults. The proof to the fact is that the rate of defaults at Capital One fell steeply in March 2011, recording one of the lowest figures in the last two years.

There was a 3.59% drop in the rate of payments delayed by a month or more. At the same time last year, the delinquency rate at Capital One stood at 5.3%. The charge-offs fell by 5.87% to $248 million as compared to $256 million in the month of February. A year ago, this figure stood at 10.87%. The charge-offs are accounts that are written off in case no payment has been received by the bank for 6 consecutive months.

As per the data from the Federal Reserve, the credit card industry reeled under the impact of heavy charge-offs in the second quarter of 2010, leading to huge loss of revenue to card lenders. However, by the end of the final quarter of 2010, this number has significantly dropped and stood at 7.7%.

In charge off rates at Capital One increased to 6.07% in March for international cards issues by the bank. However, the late payments on these cards that stood at 5.79% in February 2011 fell to 5.55% in March 2011.

Overall, card holders have become more responsible with their credit cards after the recession. An increasing number of people are making efforts to repay their dues on time and eliminate their credit card debt.