Gross or open accounts (GAC) for U.S. credit cards among the Big 6 U.S issuers climbed 2.4% year-on-year (YOY) in the third quarter (3Q/15) to 272.0 million, compared to 269.1 million in the prior quarter, and 265.7 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 stagnation or erosion. However, American Express and Discover performed in the middle, up 3.4% and 3.2% YOY, respectively.
Capital One remains the strongest competitor in the U.S. credit card market rising 10.0% YOY, from an estimated 60.7 million accounts in 3Q/14 to 66.8 million accounts in 3Q/15.
Chase, the nation’s largest issuer, declined 4.0% YOY from 65.5 million U.S. accounts in 3Q/14 to 62.9 million in Q3/15.
BofA’s GAC is up 0.9% YOY to an estimated 35.0 million, compared to 35.1 million in 2Q/15 and 34.7 million in 3Q/14.
Citibank’s GAC is down 0.9% YOY to an 23.3 million, compared to 23.2 million in 2Q/15 and 23.5 million in 3Q/14.
AmEx’s GAC is up 3.4% YOY to an estimated 45.1 million, compared to 44.2 million in 2Q/15 and 43.6 million in 3Q/14.
Discover’s GAC is up 3.2% YOY to an estimated 38.9 million, compared to 38.6 million in 2Q/15 and 37.7 million in 3Q/14.
BIG 6 GROSS (OPEN) U.S. CREDIT CARD ACCOUNTS
3Q/14: 265.7 million
4Q/14: 269.7 million
1Q/15: 271.9 million
2Q/15: 269.1 million
3Q/15: 272.0 million
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
AMERICAN EXPRESS U.S. CREDIT CARD GROSS ACCOUNTS
3Q/14: e43.6 million
4Q/14: e43.9 million
1Q/15: e43.8 million
2Q/15: e44.2 million
3Q/15: e45.1 million
DISCOVER U.S. CREDIT CARD GROSS ACCOUNTS
3Q/14: e37.7 million
4Q/14: e37.9 million
1Q/15: e38.2 million
2Q/15: e38.6 million
3Q/15: e38.9 million
Source: Chase; Bank of America; Capital One; Citibank; American Express; Discover
Note: estimated figures based on reported CIF and/or oustandings and/or volume
For data, background and forecasts on Gross Card 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 payments 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).