U.S. bank credit card active accounts (accounts with sales activity) grew 16.8% year-on-year (Y/Y) and 13.4% quarter-to-quarter (Q-Q) in 2014. This comes despite the slight erosion in gross accounts of 1% by Chase, Bank of America and Citibank last year.
According to CardData, there were 103.8 million active bank credit card accounts in the U.S. among the top four issuers: Citibank (CITI); Capital One (COF); Chase (CHSE) and Bank of America (BOFA). This compares to 91.5 million in the third quarter (Q3/14) and 88.9 million in the fourth quarter of last year (Q4/13).
Historically, the number of active accounts dips significantly in the first quarter (post holiday), rises in the second quarter, stays flat in the third quarter and then rises significantly in the fourth quarter.
CHSE Q4/14 U.S. active accounts were 34.0 million in Q4/14 compared to 32.1 million in prior quarter and 32.3 million in the year ago quarter. CHSE also reported the number of active accounts in relation to open accounts as 52% in Q4/14, 49% in Q3/14 and 40% in Q4/13.
BOFA Q4/14 estimated U.S. active accounts were 23.4 million in Q4/14 compared to 22.7 million in prior quarter and 22.2 million in the year ago quarter
COF Q4/14 estimated U.S. active accounts were 22.8 million in Q4/14 compared to 21.9 million in prior quarter and 20.1 million in the year ago quarter.
CITI Q4/14 estimated U.S. active accounts were 15.5 million in Q4/14 compared to 14.8 million in prior quarter and 14.3 million in the year ago quarter.
U.S. Active Accounts Historical
4Q/13: 32.3 million
1Q/14: 31.0 million
2Q/14: 31.8 million
3Q/14: 32.1 million
4Q/14: 34.0 million
4Q/13: 22.2 million
1Q/14: 22.0 million
2Q/14: 22.5 million
3Q/14: 22.7 million
4Q/14: 23.4 million
4Q/13: 20.1 million
1Q/14: 20.4 million
2Q/14: 21.6 million
3Q/14: 21.9 million
4Q/14: 22.8 million
4Q/13: 14.3 million
1Q/14: 14.9 million
2Q/14: 14.9 million
3Q/14: 14.8 million
4Q/14: 15.5 million
RAM Research predicts the number of active accounts will decline to 101.9 million for the top four issuers in the first quarter.
For more data on Big 4 Issuer Bank Credit Card Active Accounts access CardData®. For information and commentary on Big 4 Bank Credit Card Active Accounts visit the searchable CardFlash® Library of more than 58,000 articles published since 1995. RAM Research® forecasts on Big 4 Bank Credit Card Active Accounts are available exclusively through CardWeb.com.®