Card Charge-offs

Third-Quarter Card Charge-Offs Hit 7 Yr Hi & Reserves Soar 10%

Third-quarter card charge-offs among the Top 4 U.S. bank credit card dropped sharply from the prior quarter, a historical pattern, but up slightly from one-year ago, remaining the highest for a third-quarter in seven years. Credit card charge-offs among the nation’s Top 4 credit card issuers decreased 36 bps (basis points) sequentially in the third-quarter…

Third-Quarter Card Volume

Third-Quarter Card Volume for Major 4 Falls 180 bps

Third-quarter U.S. credit card volume, among the Major 4 payment networks (Visa [V], Mastercard [MA], American Express [AXP], and Discover [DFS]), lost momentum, growing 8% year-on-year (YOY), compared to a 10% YOY gain for the year ago quarter. The erosion in spending is further evidence of a slowing economy. The Major 4 reported $1039 billion…

Third-Quarter Card Delinquency

Third-Quarter Card Delinquency Edging to 7-Yr Highs

Third-quarter card delinquency, among the nation’s top four credit card issuers, continued to march upward, now hovering at levels not seen in seven years. It is the highest level for a third-quarter since 2013 and rose significantly from the prior quarter. Noteworthy is the fact all four of the nation’s top bank credit card issuers…

Money Revolution at Money 20/20

Money Revolution Hits Las Vegas as Big Guns Converge

The Money Revolution, Money20/20, is the “magnet of magnets” of events for the payments industry and it gets underway next week. Billed as the doorway to the epicenter of the payments, banking, fintech and financial services ecosystem, this year’s theme is Journey to the Future of Money. Featured in PYVNTS, the four day Money 20/20…

Third-Quarter Earnings Reports

Third-Quarter Earnings Reports for Payments Hit Next Week

Third-quarter earnings reports for the nation’s top credit card issuers, global payments networks and supporting businesses gets underway before the market opens on Tuesday, October 15th. First out of the shoot, is Chase (JPM), Citibank (C) and Wells Fargo (WFS), according to and CardData. Among, the four global payment networks, American Express (AXP) will…

Credit Card Loan Loss

Credit Card Loan Loss Reserves Jump as Economic Clouds Gather

Card loan loss reserves rose sharply among the nation’s largest issuers, however, charge-offs among the Big 6 domestic credit card issuers held steady in the second-quarter. Credit card charge-offs among the nation’s Big 6 credit card issuers rose 18 basis points (bps) year-on-year (YOY) for the second-quarter (2Q/19).  The Big 6 (Chase [JPM], Capital One…

Consumer Debt Ratios

Consumer Debt Ratios Hit 40+ Yr Low as Bears Awaken

Consumer debit ratios for the second-quarter plummeted to levels not seen in more than 40 years. The Financial Obligations Ration (FOR) dropped 53 basis points (bps) over the past two years, while the Debt Service Ratio (DSR) has declined 27 bps since the second-quarter of 2017, based on figures released by the Federal Reserve. The…

Visa Mastercard Payment Cards

Visa Mastercard Payment Cards Chalk Up 8% YOY Gain 4.35% CAGR

Visa Mastercard payment cards (credit, charge, debit, and prepaid) cards-in-force (CIF) in the U.S., for the second-quarter (2Q/19) posted an increase of 8.3% year-on-year (YOY), compared to a 6.7% YOY gain in payment cards for the prior quarter (1Q/19). Visa and Mastercard U.S. credit cards increased 5.0% YOY, while CIF for debit cards rose 10.9%…

early stage card delinquency

Early Stage Card Delinquency Tad Down in Q2 for Big 6

Early stage card delinquency in the second-quarter (2Q/19) declined 13 basis points (bps) from the prior quarter, but rising 13 bps from one-year ago. But the average 30+ day delinquency rate among the Big 6 U.S. issuers has been riding above 2.0% level for four consecutive quarters. The average U.S. 30+ day delinquency rate among…