U.S. credit cards issued among the Big 6 issuers grew 3.6% year-on-year (YOY) at the end of the fourth quarter (4Q/18), up 11.9 million cards-in-force (CIF) YOY to 345.7 million cards, compared to 343.4 million in 3Q/18 and 333.8 million for 4Q/17, according to CardData.
The Big 6: (Chase [JPM], Capital One [COF], Bank of America [BAC], Citibank [C], American Express [AXP], and Discover (DFS), YOY growth has been slowing from 4.6% YOY in 2016 to 4.3% YOY in 2017, and compared to 3.6% YOY for 2018, according analysis by RAM Research.
Big 6 Stats
Chase (JPM) U.S. credit CIF jumped 5.0% YOY for 4Q/18 at 81.4 million, compared to 80.4 million in the prior quarter, and 77.5 million one-year ago.
Capital One (COF) U.S. credit CIF was up 2.0% YOY for 4Q/18 at 56.3 million, compared to 56.0 million in the prior quarter, and 55.2 million for 4Q/17.
Bank of America (BAC) U.S. credit CIF inched upward 1.3% YOY for 4Q/18 at 47.4 million, compared to 47.0 million in the prior quarter, and 46.8 million one year ago.
Citibank (C) U.S. credit CIF was slightly increased by 0.7% for 4Q/18 at 43.1 million, compared to 42.9 million in the prior quarter, and 42.8 million for 4Q/17.
American Express U.S. credit/charge CIF for 4Q/18 increased 3.7% YOY to 53.7 million, compared to 53.0 million in the prior quarter, and 50.0 million in the year ago quarter.
Discover U.S. credit CIF for 4Q/18 rose 2.3% YOY to an estimated 63.8 million, compared to an estimated 64.1 million in the prior quarter, and an estimated 61.5 million in the year ago quarter. (Discover no longer discloses CIF or account data)
All figures shown are estimates derived from current outstandings, purchase dollar volume and historical data as well as proprietary data. Citibank currently reports gross (open) accounts. American Express reports card-in-force. Figures exclude cards deactivated voluntarily or involuntarily with accounts with open balances.
Visa & Mastercard CIF
The 4Q/18 U.S. credit card CIF for Visa and Mastercard were up 3.4% YOY, compared to 2.9% YOY in the prior quarter. Visa and Mastercard reported 570 million credit CIF for 4Q/18, compared to 558 million for 3Q/18 and 551 million for 4Q/17.
Big 6 U.S. Credit Cards-in-Force
4Q/15: 308.6 million
4Q/16: 319.9 million
4Q/17: 333.8 million
4Q/18: 345.7 million
Chase U.S. Credit Cards-in-Force
4Q/15: 71.2 million
4Q/16: 76.8 million
4Q/17: 77.5 million
4Q/18: 81.4 million
Capital One U.S. Credit Cards-in-Force
4Q/15: 48.3 million
4Q/16: 53.1 million
4Q/17: 55.2 million
4Q/18: 56.3 million
Bank of America U.S. Credit Cards-in-Force
4Q/15: 40.0 million
4Q/16: 41.2 million
4Q/17: 46.8 million
4Q/18: 47.4 million
Citibank U.S. Credit Cards-in-Force
4Q/15: 29.4 million
4Q/16: 41.1 million
4Q/17: 42.8 million
4Q/18: 43.1 million
American Express U.S. Credit Cards-in-Force
4Q/15: 57.6 million
4Q/16: 47.5 million
4Q/17: 50.0 million
4Q/18: 53.7 million
Discover U.S. Credit Cards-in-Force
4Q/15: e62.1 million
4Q/16: e60.2 million
4Q/17: e61.5 million
4Q/18: e63.8 million