Discover’s credit card outstandings will likely top $55 billion for the second quarter according to forecaster RAM Research. CardData says Discover’s credit card outstandings continued strong in the first quarter rising 5.1% as Purchase Dollar Volume (PDV) rose 2.7%, year-on-year (YOY).
Discover reported credit card outstandings for Q1/15 of $53.5 billion, compared to $56.1 billion for the fourth quarter and $50.9 billion for the year ago quarter.
PDV for the first quarter totaled $26.4 billion, compared to $25.7 billion for Q1/14 and $30.9 billion for Q4/14.
Gross Dollar Volume (GDV) rose 2.1% YOY to $28.7 billion, from $28.1 for Q1/14 and $33.2 billion in the prior quarter.
Q1/14: $50.9 billion
Q2/14: $52.7 billion
Q3/14: $53.7 billion
Q4/14: $56.1 billion
Q1/15: $53.5 billion
Q2/15: $55.4 billion
Source: Discover; CardData; RAM Research
For data, background and forecasts on Discover: Search CardWeb.com’s CardFlash® Library of more than 58,000 archived articles; Access CardWeb.com’s CardData® for current and historical Performance, Portfolios, Profiles, etc. Visit RAM Research® (ramresearch.com) for quarterly and annual forecasts covering more than 150 metrics. [complimentary or deeply discounted access to CardWeb.com subscribers].
Additional database resources include CardWeb.com’s CardExecs® – comings & goings of payments movers & shakers; CardWeb.com’s CardWatch® – ears & eyes on marketing globally (57K items); and CardWeb.com’s CardPixes® – form & function of card design (7K items).