Gross or open accounts (GAC) for U.S. credit cards among the nation’s four largest issuers climbed 2.0% in the third quarter to 188.0 million, compared to 184.4 million one-year ago. 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.
Capital One remains the strongest competitor in the U.S. credit card market rising 10.0% YOY, from an estimated 60.7 million accounts to 66.8 million accounts.
Chase, the nation’s largest issuer, inched up slightly sequentially slipped from 62.8 million U.S. accounts to 62.9 million in Q3/15, or down 3.9% YOY.
Gross (Open) U.S. Credit Card Accounts
CHASE U.S. CREDIT CARD GROSS ACCOUNTS
3Q/14: 65.5 million
4Q/14: 64.6 million
1Q/15: 64.9 million
2Q/15: 62.8 million
3Q/15: 62.9 million
BANK OF AMERICA U.S. CREDIT CARD GROSS ACCOUNTS
3Q/14: e34.7 million
4Q/14: e35.5 million
1Q/15: e35.6 million
2Q/15: e35.1 million
3Q/15: e35.0 million
CAPITAL ONE U.S. CREDIT CARD GROSS ACCOUNTS
3Q/14: e60.7 million
4Q/14: e64.2 million
1Q/15: e65.7 million
2Q/15: e66.0 million
3Q.15: e66.8 million
CITIBANK U.S. CREDIT CARD GROSS ACCOUNTS
3Q/14: 23.5 million
4Q/14: 23.6 million
1Q/15: 23.7 million
2Q/15: 23.2 million
3Q/15: 23.3 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).