Gross or open accounts (GAC) for U.S. credit cards among the Big 6 U.S issuers edged up 0.4% year-on-year (YOY) in the fourth quarter (4Q/15) to 270.7 million, compared to 272.0 million in the prior quarter, and 269.7 million one-year ago.
The growth is driven by Capital One and American Express (AmEx), while Chase, Bank of America (BofA) Citibank, and Discover faced year-on-year (YOY) and quarter-to-quarter (QTQ) GAC stagnation or erosion.
Capital One remains the strongest competitor in the U.S. credit card market rising 8.3% YOY, from an estimated 64.2 million accounts in 4Q/14 to 69.5 million accounts in 4Q/15. Cap One had 66.8 million accounts in the prior quarter.
Chase, the nation’s largest issuer, declined 8.2% YOY from 64.6 million U.S. accounts in 4Q/14 to 59.3 million in 4Q/15. For 3Q/15 Chase had 62.9 million accounts.
BofA’s GAC is down 2.0% YOY to an estimated 34.8 million North America accounts, compared to 35.5 million in 4Q/14 and 35.0 million for 3Q/15.
Citibank’s GAC is down 0.4% YOY to 23.5 million North America accounts, compared to 23.3 million in 3Q/15 and 23.6 million in 4Q/14.
AmEx’s GAC is up 5.0% YOY to an estimated 46.1 million U.S. accounts, compared to 45.1 million in 3Q/15 and 43.9 million in 4Q/14.
Discover’s GAC is down 1.1% YOY to an estimated 37.5 million U.S. accounts, compared to 38.9 million in 3Q/15 and 37.9 million in 4Q/14.
BIG 6 GROSS (OPEN) U.S. CREDIT CARD ACCOUNTS
4Q/14: 269.7 million
1Q/15: 271.9 million
2Q/15: 269.1 million
3Q/15: 272.0 million
4Q/15: 270.7 million
CHASE U.S. CREDIT CARD GROSS ACCOUNTS
4Q/14: 64.6 million
1Q/15: 64.9 million
2Q/15: 62.8 million
3Q/15: 62.9 million
4Q/15: 59.3 million
BANK OF AMERICA U.S. CREDIT CARD GROSS ACCOUNTS
4Q/14: e35.5 million
1Q/15: e35.6 million
2Q/15: e35.1 million
3Q/15: e35.0 million
4Q/15: e34.8 million
CAPITAL ONE U.S. CREDIT CARD GROSS ACCOUNTS
4Q/14: e64.2 million
1Q/15: e65.7 million
2Q/15: e66.0 million
3Q/15: e66.8 million
4Q/15: e69.5 million
CITIBANK U.S. CREDIT CARD GROSS ACCOUNTS
4Q/14: 23.6 million
1Q/15: 23.7 million
2Q/15: 23.2 million
3Q/15: 23.3 million
4Q/15: 23.5 million
AMERICAN EXPRESS U.S. CREDIT CARD GROSS ACCOUNTS
4Q/14: e43.9 million
1Q/15: e43.8 million
2Q/15: e44.2 million
3Q/15: e45.1 million
4Q/15: e46.1 million
DISCOVER U.S. CREDIT CARD GROSS ACCOUNTS
4Q/14: e37.9 million
1Q/15: e38.2 million
2Q/15: e38.6 million
3Q/15: e38.9 million
4Q/15: e37.5 million
Source: Chase; Bank of America; Capital One; Citibank; American Express; Discover
Note: estimated figures based on reported CIF and/or outstandings and/or GDV/PDV
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