The average yield among the nations’s Top 4 bank credit card issuers declined 24 basis points (bps) sequentially at 11.24% for the third quarter (3Q/16), compared to 11.48% for the prior quarter, and 11.53% for 3Q/15, according to CardData.com.
Capital One (COF), continues to lead the Top 4 with a 14.71% 3Q/16 yield while BofA was at the bottom with a 9.30% yield.
For 3Q/16, Chase’s yield of 11.04% was down 124 bps sequentially, and down 118 bps year-on-year (YOY). The decline was driven by an ill-advised rewards credit card offer.
For 3Q/16, BofA’s yield of 9.30% was up 10 bps sequentially, and up 15 bps YOY.
For 3Q/16, Capital One’s yield of 14.71% was up 31 bps sequentially, and up 36 bps YOY.
For 3Q/16, Citibank’s yield of 9.90% was down 14 bps sequentially, and down 38 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: Chase; Bank of America; Capital One; Citibank; CardData
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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