Low Oil Prices a Boon to Credit Card ABS

Low Oil Prices a Boon to Credit Card ABS

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Still-low oil prices could prove to be a boon for already-strong U.S. credit card ABS performance in the coming months. According to Fitch Ratings oil price declines are leading to a sustained drop in gasoline and heating oil prices this winter, which is adding more savings into U.S. households. Fitch notes…

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U.S. ID Fraud Victims a Mixed Bag in 2015

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The number of identity fraud victims increased by three percent (13.1 million consumers) in the U.S. last year, but that the amount stolen decreased by six percent to $15 billion. The annual 2016 Identity Fraud Study by Javelin also found the rise of EMV has already had a significant impact on…

Wells Fargo Card Portfolio Up but Charge-Offs Higher

Wells Fargo Card Portfolio Up but Charge-Offs Higher

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Wells Fargo credit card third quarter outstandings were up 15.3% year-on-year (YOY) to $34.0 billion reflecting new account growth and growth in private label and co-brand outstandings. Purchase Dollar Volume (PDV) grew 12% YOY in 4Q/15. For the Fourth quarter, Wells posted $18.9 billion in PDV, compared to $18.3 billion in…

Electronic Commerce International Ready for Prime-Time

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Electronic Commerce International (ECI), a registered provider of data security and secure, reliable Visa and MasterCard credit card processing for businesses, unveils ECI Consumer Finance, its new multi-lender, credit based and no-credit based (retail, brick and mortar businesses only) online platform consisting of over twenty lenders. Lenders can be mixed and…

Credit Karma Reaches 50 Million Member Milestone

Credit Karma Reaches 50 Million Member Milestone

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Credit Karma announced has signed up its 50 millionth member, a major milestone that gives the online personal finance platform insight into more than one-fifth of America’s total household debt. Credit Karma’s 50 million-strong member base accounts for 22% of all Americans with a credit profile in the United States, who…

Service Biz & Middle Market Scrutinized by AXP & DNB

Service Biz & Middle Market Scrutinized by AXP & DNB

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The burgeoning service economy is significantly outpacing more traditional industry sectors in its rate of business growth among middle market companies, according to the Middle Market Power Index: Exploring Generational Changes in Middle Market Industries from American Express and Dun & Bradstreet. While manufacturing and wholesale trade continue to remain key…

U.S. EMV Cards to Peak in 2016 at 617 Million Units

U.S. EMV Cards to Peak in 2016 at 617 Million Units

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] In 2015, EMV card issuance in the U.S exceeded original industry expectations, hitting nearly 600 million units, while China showed continued success, achieving record shipments near the 850 million mark. The two countries led significant worldwide market growth, accounting for 53% of the more than 2.6 billion total EMV cards shipped…

Global Market for Card Printers to Hit $72B by 2019

Global Market for Card Printers to Hit $72B by 2019

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] New research has estimated the global market for card printers to surpass USD 72 billion by 2019. High market value of the global card printers market can be attributed to the enhanced efficiency, quality, and performance of printers, which results in its increased adoption in sectors like BFSI, educational, and IT.…

BofA Grapples With 4Q/15 Credit Card Portfolio Stagnation

BofA Grapples With 4Q/15 Credit Card Portfolio Stagnation

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The nation’s second largest Visa and MasterCard issuer continues to struggle with sluggish outstandings and purchase dollar volume (PDV) growth, plus credit card quality is inching north. BofA (EOP) U.S. bank credit card outstandings declined 2.5% year-on-year (YOY) to $89.6 billion for the fourth quarter (4Q/15). Meanwhile, Purchase Dollar Volume (PDV)…

Wells Fargo - 2nd Fastest Growing Top 10 U.S. Card Issuer

Wells Fargo – 2nd Fastest Growing Top 10 U.S. Card Issuer

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Wells Fargo’s credit card fourth quarter (4Q/15) portfolio outstandings jumped 9.3% year-on-year (YOY) to $34.0 billion. Purchase dollar volume (PDV) soared 12.5% YOY to $18.9 billion, compared to 15.1% YOY in the prior quarter. Wells Fargo is the second fastest growing U.S. card issuer among the top ten, next to Capital…