Gross dollar volume (GDV) for Visa, Mastercard, American Express and Discover credit cards in the U.S. climbed 9.9% year-on-year (YOY) in 3Q/18, compared to 9.4% YOY for 2Q/18, reaching $959 billion. American Express led the way in the third quarter posting a 10.8% YOY gain for U.S. GDV, while all the other networks posted high…
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No-Deal Brexit is stifling U.K. consumer credit growth in September, dropping to 7.7% year-on-year (YOY), its lowest level in six years and well below the peak of 10.8% YOY set in November 2016. For September, driven by the No-Deal Brexit fallout, the decline was 40 basis points (bps) sequentially, and flat YOY. However, according to…
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Credit card rates (nominal) among banks and credit unions nationally increased 24 basis points (bps) in the August from June while rates assessed on accounts with balances rose 94 bps over the same period. Nominal credit card interest rates among the Top 6 issuers rose in tandem with the prime rate (now 5.25%) or 80…
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Consumer Debt Service Ratio (DSR) & Debt Financial Obligations Ratio has been declining slightly. According to the Federal Reserve, on a seasonally adjusted basis, the FOR slightly decreased to 15.31% in 2Q/18, compared to 15.33% in 1Q/18 and 15.53% in 2Q/17. The DSR slipped down to 9.84% in the second quarter of this year, compared…
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Australian credit card debt growth and credit card usage is continues to grow slowly. Credit card outstandings were flat year-on-year (YOY) in August, while credit card purchase dollar volume (PDV) rose 24.0% YOY. According to figures released by the Reserve Bank of Australia (RBA), credit card credit limits were flat in August YOY and have…
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U.S. consumer credit card debt (revolving) for August, mostly credit card debt (95%), remained above the $1 trillion level for the sixth consecutive quarter. The year-on-year (YOY) change edged slightly upward in August. Consumer revolving credit increased at an 5.6% annual rate of growth in August, compared to a revised 1.6% annual rate in July…
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Credit card losses among the nation’s top 6 issuers rose 18 basis points (bps) year-on-year (YOY) to 3.47% for the second quarter (2Q/18), but down 4 bps sequentially. The Big 6 (Chase, Bank of America, Capital One, Citibank, American, Express, Discover) reported an aggregate charge-off ratio of 3.47% for 2Q/18, compared to 3.51% for 1Q/18…
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Credit card marketshare, among the nation’s four major payment card networks, produced $1747 billion in U.S. gross dollar volume (GDV) in the second quarter (2Q/18) for a 9.3% year-on-year (YOY) gain. Visa continues to rule the market, growing its U.S. GDV marketshare from 61.1% in 2Q/17 to 61.4% in 1Q/18. VISA Visa posted a 9.3%…
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Mastercard’s cross-border volume, on a currency adjusted basis (FX), soared in the second quarter (2Q/18) outpacing Visa by 158 basis points (bps) year-on-year (YOY). Sequentially, quarter-to-quarter (QTQ), Mastercard slipped a 121 bps, compared to Visa’s flat performance YOY. Cross-border transaction volume refers to payments and cash volume where the issuing country is different from the…
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Credit card gross dollar volume (GDV) among the big U.S. six U.S. bank card issuers, rose an estimated 10.7% year-on-year (YOY) in the second quarter (2Q/18). Capital One led the peer group with a high double-digit growth YOY in 2Q/18, followed by Chase and American Express, respectively. Chase, Bank of America (BofA), Capital One and Citibank…
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Nominal credit card rates among banks and credit unions nationally increased 137 basis points (bps) in the second quarter (2Q/18) year-on-year (YOY) while rates assessed on accounts with balances rose 154 bps over the same period. Sequentially, nominal interest rates rose 51 bps as accessed credit card rates increased 22 bps. Nominal credit card interest…
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Payment cards worldwide or cards-in force (CIF) [credit + debit] grew by 6.4% year-on-year (YOY) in the second quarter (2Q/18) to 5412 million, compared to 5323 million for 1Q/18 and 5088 million, one-year ago. All the four major U.S. based payments networks posted gains in 2Q/18, according to CardData. Visa and MasterCard Rule the Planet…
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