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…

Discover Card Portfolio Remains Solid – However Card Investments Edge Up

While not exploding, Discover’s (DFS) credit card portfolio continues to stay in positive territory. Year-on-year (YOY) growth in the third quarter (3Q/16) was limited to single digits, as delinquency edged upward. Discover’s total revenue rose 5.2% YOY to $2301 million for 3Q/16, compared to $2216 million in the prior quarter and $2188 million for the…

Visa Sets U.S. PDV YOY Record as GAC/CIF YOY Hovers Near 10%

Visa’s U.S. payment card (credit+debit) purchase dollar volume (PDV), for the third quarter (3Q/16), logged its highest year-on-year (YOY) gain in more than three year. Even though the big Visa issuers struggle with stagnant growth in accounts (GAC) and cards-in-force (CIF), Visa continues to hover near double-digits YOY. Visa’s U.S. gross dollar volume (GDV) increased…