U.S. Bank Consumer Credit Cards Expand as Q4 Acquiring Volume Slides

U.S. Bank (USB)’s Payment Services division reports explosive year-on-year (YOY) growth in consumer credit card gross dollar volume (GDV), as well as a double-digit YOY gain in credit card outstandings (OUT) for the fourth quarter (4Q/16), driven by acquisitions, according to CardData. Acquiring volume continued to decline for the third consecutive quarter. USB’s Payment Services…

Wells Fargo Q4 Credit Card Account Acquisitions Plummet on Sales Fraud

New consumer credit card accounts added by Wells Fargo in the fourth quarter (4Q/16) nose-dived by 47% year-on-year (YOY) reflecting reduced marketing activities and customer reaction to the sales practices settlement, according to CardData. Consumer credit card purchase dollar volume (PDV) was up 6.9% year-on-year (YOY) as purchase transactions (PTX) rose by 10.2% for 4Q/16. The…

Loyalty One CN-Driven Redemptions Kill Alliance Data Systems Q4 Profits

Dallas-based Alliance Data Systems (ADS) reported fourth quarter (4Q/16) year-on-year (YOY) profits sunk due to new legislation in Ontario prohibiting the time-based expiration of reward points associated with all loyalty programs. The cancellation of its 5-year expiration policy necessitated a change in ADS breakage estimate, according to CardData. ADS reported gross revenue rose 4.5% YOY…

While Losing Marketshare BofA Holds Stable Q4 Credit Card Performance

The nation’s third largest Visa and MasterCard issuer continued to struggle in the fourth quarter (4Q/16) with sluggish outstandings (OUT) and purchase dollar volume (PDV) growth, but other metrics, remain fairly stable, according to CardData. Pre-tax net income edged down 1.8% YOY to $1290 million in 4Q/16, compared to $1218 million in the prior quarter…

Discover Cuts Back on Card Marketing – Q4 Profits Rise 13%

While not exploding, Discover’s (DFS) credit card portfolio continues to stay in positive territory. Year-on-year (YOY) growth in the fourth quarter (4Q/16) profits increased double digits reflecting a decline in marketing expenses for credit card marketing, according to CardData. Discover’s total revenue rose 6.9% YOY to $2358 million for 4Q/16, compared to $2301 million in…

Capital One EOY Outstandings – Solid #2 U.S. Issuer – Q4 Profits Plateau

Among the biggest bank credit card issuers in the U.S., Capital One (COF) continues to lead the way in every metric, except charge-offs. Based on fourth quarter (4Q/16) figures COF surpassed Bank of America (BAC) as the nation’s second largest issuer, by $5 billion, according to CardData. COF posted double digit year-on-year (YOY) gains in…

Citi’s Costco Card Drives PDV +60% & Outstandings +28% – Q4 Profits Soft

Citibank North America branded credit card metrics exploded again in the fourth quarter (4Q/16) as the Costco card acquisition from American Express last year remains in high gear, according to CardData. However, card income declined by double-digits in the fourth quarter, driven by the additional costs associated to the Costco portfolio. North America Citi-branded card revenue…

Sapphire Card Puts the Hurt on Chase Q4 Profits – PDV Up 13.5% YOY

Chase, the nation’s largest bank credit card issuer, continued to post double-digit year-on-year (YOY) growth in purchase dollar volume (PDV) in the fourth quarter (4Q/16) while YOY growth in outstandings (OUT) remained in the mid-single digits, according to CardData. Delinquency (DEL) and charge-offs (CO) jumped upward YOY as the account base remains stagnant and overall…

Mastercard Europe Softens Up as PDV Slips but PTX & CIF Solid

Mastercard’s European region posted sluggish year-on-year (YOY) gains for the third quarter (3Q/16), according to CardData.com. While, on a currency adjusted basis (FX), cash dollar volume (CDV) jumped more than 22% YOY, purchase dollar volume (PDV) declined more than 2% and gross dollar volume (GDV) increase a mere 5.4%. Europe is Mastercard’s second largest international…