Citi Retail Services has inked a multi-year renewal agreement with ExxonMobil for its consumer and commercial credit card relationship. The agreement with ExxonMobil is the eighth contract renewal Citi Retail Services has announced since the beginning of 2014.
There are more than 10,000 Exxon- and Mobil-branded stations in the U.S.
Citibank’s retail credit card portfolio, which includes ExxonMobil, Macy’s, Sears, Shell, Best Buy, Home Depot and many others, reported 89.5 million accounts at the end of Q3/15, compared to 88.1 million for Q2/15 and 87.2 million for Q3/14.
Purchase Dollar Volume (PDV) rose 1% YOY to $19.8 billion, while End-of-Period (EOP) loans were flat YOY at $43.1 billion.
Delinquency (30-89 day) for the U.S. retail credit card portfolio rose to 1.76%, compared to 1.51% in the prior quarter, and 1.70% one-year ago.
Late-stage delinquency (90+ days) decreased 13 bps from Q2/15 to 1.44%, but remains lower than 1.47% for one-year ago.
However, charge-offs slowed down, to 3.69% in Q3/15, compared to 4.30% for Q2/15 and 4.23% for Q3/14.
CITIBANK U.S. RETAIL CARD ACCOUNTS
3Q/14: 87.2 million
4Q/14: 88.1 million
1Q/15: 87.3 million
2Q/15: 88.1 million
3Q/15: 89.5 million
For data, background and forecasts on the Citibank: 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).