Sub-prime cards are gathering more steam as a major deal closes. Credit card debt skyrocketed in December by a record 14%. Majority of Americans want a 36% rate cap. Women in Payments recently recognized exceptionally talented leaders and rising stars in Fintech and Banking. Despite years of warnings, those computers inside your computer remain disturbingly unprotected.…
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Loan delinquency across the board is projected to rise sharply in the next five years. The outcome of the 2020 U.S. election cycle will have a unprecedented and profound impact on the U.S. economy, the global economy, and the payment card industry through 2025. Solid projections point to early stage credit card delinquency among the…
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Card yield, as an average for the nation’s Top 4 credit card issuers, reversed course in the fourth-quarter after posting new records throughout 2019 All of the issuers, except Chase, posted significantly lower yields in the fourth-quarter from the prior quarter. However, this is fifth consecutive quarter wherein all of the Top 4 exceeded 10%.…
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Discover LGBTQ scores a perfect 100 score alongside almost 700 other companies as “Best Place to Work” for equality. Nordstrom, Macy’s, J.C. Penney and Madewell are shifting retail to preloved clothes, shoes and handbags. GOP wants to revamp the Volcker Rule and continue gutting the CFPB. The Curve Mastercard with Apple Pay app takes shape.…
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Visa Mastercard payment cards (credit, charge, debit, and prepaid) cards-in-force (CIF) in the U.S., for the fourth-quarter (4Q/19) posted an increase of 5.2% year-on-year (YOY), compared to a 5.8% YOY gain in payment cards for the prior quarter (3Q/19). Visa and Mastercard U.S. credit cards increased 3.7% YOY, while CIF for debit cards rose 6.2%…
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Fourth-quarter chargeoffs among the Top 4 U.S. bank credit card increased modestly from the prior quarter and up a smidgen from one-year ago. Credit card charge-offs among the nation’s Top 4 credit card issuers decreased 7 bps (basis points) sequentially in the fourth-quarter (4Q/19), and up 3 bps year-on-year (YOY). The Top 4 (Chase [JPM],…
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Fourth-quarter card GDV (gross dollar volume) for credit/charge card products, among the Major 4 payment networks (Visa [V], Mastercard [MA], American Express [AXP], and Discover [DFS]), lost momentum, growing 7.5% year-on-year (YOY), compared to an 8.2% YOY gain for the prior quarter, and 8.6% YOY for the year ago quarter. On an annual or YOY…
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Credit card balances for the fourth-quarter, among the Top 4 U.S. issuers, grew a solid 6.0% year-on-year (YOY), compared to 4.3% YOY in the prior quarter, and compared to 2.8% YOY one-year ago. Among the nation’s Top 4 credit card issuers (Chase [JPM], Capital One [COF], Bank of America [BAC], and Citibank [C]), the annual…
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30 day delinquency, among the nation’s top four credit card issuers, continued to march upward, now hovering at levels not seen in more than seven years. It is the highest level for a first-quarter since 2013 and rose slightly from the prior quarter, and one-year ago. Noteworthy is the fact all four of the nation’s…
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Card fee income decreased for the third consecutive year in 2019, while interchange income posted strong a double-digit gain. The decline for 2019 was directly attributable to reduced penalty fees (mostly late payments fees) and lower cash advance fees, driven by a robust economy with low unemployment and fairly stable consumer sentiment, according to CardData. Income from…
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AR, VR & music are on the menu for 2020 courtesy of Mastercard while Visa ponies up $5 billion for a hot fintech consumer app. Interest in biometrics for payment cards may emerge this year after a sleepy 2019. The IRS has crypto-to-crypto transactions on the radar this tax season, according to Bankcenter and CardBuzz.…
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Credit card ROA (pre-tax return on assets) for 2019 is estimated to rise to 4.80%, compared to 4.60% for the prior year, and compared to 4.45% for 2017. In 1987 pre-tax ROA peaked at 5.00% and bottomed at 1.50% in 2009. According to R.K. Hammer, credit card portfolio evaluation and sales experts, total revenue increased…
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