While U.S. credit card outstanding, among the top 4 issuers, were flat year-on-year (Y/Y) in the third quarter, it is likely to grow 2% Y/Y in the fourth quarter (Q4/14) and for all of 2015. Driving the growth is Capital One while Bank of America is hampering the peer group growth.
Collectively, outstandings among the Big 4 logged in at $355 billion in the third quarter and will likely come in at $370 billion in the fourth quarter according to CardData.
RAM Research projects Big 4 outstandings will climb to $378 billion in Q4/15.
Big 4 U.S. CC Outstandings
1Q/14: $346 billion
2Q/14: $351 billion
3Q/14: $355 billion
4Q/14: $370 billion
1Q/15: $353 billion
2Q/15: $358 billion
3Q/15: $362 billion
4Q/15: $378 billion
Source: CardData; RAM Research
Chase bank credit card End-of-Period (EOP) outstandings inched up by 1% Y/Y to $127.0 billion in the third quarter.
Bank of America (BofA) reported a decline of 1.2% in Year-on-Year (Y/Y) average U.S. bank credit card outstandings of $88.9 billion for the third quarter (Q3/14).
For Q3/14 COF reported $73.1 billion in end-of-period (EOP) outstandings, a 5% Y/Y increase, compared to $71.2 billion in the prior quarter and $70.0 billion one-year ago. Average outstandings for the period increased 3% Y/Y at $71.8 billion.
Citi’s bank credit card portfolio ended Q3/14 with $66.5 billion in outstandings and $66.1 in average outstandings for the third quarter.
Chase will release Q4 on Jan 14, before the market open.
Bank of America and Citibank will release Q4 on Jan 15 before the market opens.
Capital One will release Q4 on Jan 22 after the market closes.
For more data on outstandings access CardData®. For information and commentary on outstandings visit the searchable CardFlash® Library of more than 58,000 articles published since 1995. RAM Research® forecasts on outstandings are available exclusively through CardWeb.com.®