The average yield among the nations’s Top 4 bank credit card issuers declined 9 basis points (bps) sequentially at 11.49% for the first quarter (1Q/16), compared to 11.58% for the prior quarter, and 11.54% for 1Q/15.
Capital One (COF), continues to lead the Top 4 with a 14.43% 1Q/16 yield while BofA was at the bottom with a 9.32% yield.
For 1Q/16, Chase’s yield of 11.81% was down 73 bps sequentially, and down 38 bps year-on-year (YOY). For 1Q/16, BofA’s yield of 9.32% was up 17 bps sequentially, and up 5 bps YOY. For 1Q/16, Capital One’s yield of 14.43% was up 12 bps sequentially, and up 20 bps YOY. For 1Q/16, Citibank’s yield of 10.48% was up 7 bps sequentially, and down 10 bps YOY.
AVERAGE TOP 4 CREDIT CARD YIELD
CHASE U.S. CREDIT CARD YIELD
BANK OF AMERICA U.S. CREDIT CARD YIELD
CAPITAL ONE U.S. CREDIT CARD YIELD
CITIBANK U.S. CREDIT CARD YIELD
Source: American Express; Discover; Chase; Bank of America; Capital One; Citibank
CHSE – total net revenue (non-interest revenue + net interest income) as percentage of average loans
BOFA – gross interest yield
COF – average yield on credit card loans held for investment
CITI – average yield is calculated as gross interest revenue earned divided by average loans
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