Gross or open accounts (GAC) for U.S. credit cards among the nation’s four largest issuers will likely climb 1.9% in the third quarter to 191.0 million says RAM Research. GAC rose 2.0% in the second quarter to 187.4 million, compared to 183.7 million one-year ago, according to CardData.
The growth is driven by Capital One, while Chase, Bank of America (BofA) and Citibank face year-on-year (YOY) and quarter-to-quarter (QOQ) GAC erosion. However, BofA posted a slight YOY gain.
Capital One remains the strongest competitor in the U.S. credit card market rising 11.7% YOY, from an estimated 59.1 million accounts to 66.0 million accounts.
BofA is a weak second growing 1.1% YOY, from an estimated 34.7 million accounts to 35.1 million accounts.
Chase, the nation’s largest issuer, slipped from 65.8 million U.S. accounts last year to 62.8 million in Q2/15, or down 4.6% YOY.
Citi also declined slightly from 24.1 million U.S. accounts last year to 23.2 million in Q2/15, or down 3.7% YOY.
Gross (Open) U.S. Credit Card Accounts
CHASE U.S. CREDIT CARD GROSS ACCOUNTS
2Q/14: 65.8 million
3Q/14: 65.5 million
4Q/14: 64.6 million
1Q/15: 64.9 million
2Q/15: 62.8 million
BANK OF AMERICA U.S. CREDIT CARD GROSS ACCOUNTS
2Q/14: e34.7 million
3Q/14: e34.7 million
4Q/14: e35.5 million
1Q/15: e35.6 million
2Q/15: e35.1 million
CAPITAL ONE U.S. CREDIT CARD GROSS ACCOUNTS
2Q/14: e59.1 million
3Q/14: e60.7 million
4Q/14: e64.2 million
1Q/15: e65.7 million
2Q/15: e66.0 million
CITIBANK U.S. CREDIT CARD GROSS ACCOUNTS
2Q/14: 24.1 million
3Q/14: 23.5 million
4Q/14: 23.6 million
1Q/15: 23.7 million
2Q/15: 23.2 million
For data, background and forecasts on U.S. Credit Card Gross Accounts: 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).