Capital One Financial Corp reported that US credit-card defaults continued their decline for the fourth straight month which means that fewer Americans were falling seriously behind in their credit card payments.

In its regulatory filing Capital One reported that the annualized net charge-off rate for US credit cards dropped to 8.13% in July from 9.28% in June.

The company said that accounts at least 30 delinquent declined to 4.66 percent from 4.79 percent.

For U.S. auto loans, Capital One's charge-off rate was 2.60 percent in July, down from 2.72 percent in June, and the delinquency rate marginally fell to 7.72 percent from 7.74 percent.

In credit card international operations, including Canada and Britain, the charge-off rate decreased to 7.86 percent from 8.29 percent, while the delinquency rate fell to 5.94 percent from 6.03 percent.