First-Quarter Credit Cards Increased 5% YOY Growing 3% CAGR in U.S.

First-quarter credit cards in the U.S. market will likely top 700 million in 2019. Mastercard is leading the charge growing credit/charge cards at least twice as much as the other three.

U.S. credit/charge cards-in-force (CIF) in the first-quarter (1Q/18) for the Major 4 (Visa [V], MasterCard [MA], American Express [AXP] and Discover [DFS]) was up 5.2% year-on-year (YOY), compared to 2.3% YOY growth in the prior year. At the end-of-the-period (EOP) for 1Q/19, there were 693.9 million U.S. credit/charge CIF compared to 688.5 million for 4Q/18, and 659.5 million for 1Q/18, according to figures collected by CardData.

Among the Major U.S. credit/charge card brands, Mastercard added 27 million over the past 12 months, while Visa added three million CIF, American Express added 2.8 million CIF, and Discover added 1.6 million CIF, according to analysis by RAM Research.

Compared to prior years the Major 4 U.S. networks grew by 5.2% YOY at 1Q/19 EOP; 2.3% YOY at 1Q/18 EOP; 0.1% YOY at 1Q/17 EOP; and 4.2% YOY at 1Q16 EOP. Robert McKinley, Senior Analyst for CardFlash, CardTrak and CardData, notes the Major 4 credit/charge CIF is growing at a 2.94% five-year CAGR (compound annual growth rate).

Visa U.S Credit/Charge Cards-in-Force

Visa U.S. credit/charge CIF for 1Q/19 edged up by 0.9% YOY to an estimated 338 million, compared to a revised 337 million in the prior quarter, and a revised 335 million in the year ago quarter. (Visa reports CIF on a one-quarter lag basis.) In the first-quarter of 2015 Visa had 318 million U.S. credit/charge CIF.

Mastercard U.S Credit/Charge Cards-in-Force

MasterCard U.S. credit/charge CIF for 1Q/19 grew 12.8% YOY to 238 million, compared to a revised 234 million in the prior quarter, and a revised 211 million in the year ago quarter. In the first-quarter of 2015 Mastercard had 182 million U.S. credit/charge CIF.

American Express U.S Credit/Charge Cards-in-Force

American Express U.S. credit/charge CIF for 1Q/19 increased 5.5% YOY to 54.1 million, compared to 53.7 million in the prior quarter, and 51.3 million in the year ago quarter. In the first-quarter of 2015 American Express had 54.8 million U.S. credit/charge CIF.

Discover U.S Credit/Charge Cards-in-Force

Discover U.S. credit CIF for 1Q/19 rose 2.6% YOY to an estimated 63.8 million, compared to an estimated 63.8 million in the prior quarter, and an estimated 62.2 million in the year ago quarter. (Discover no longer discloses CIF or account data and is now based on PDV, outstandings, and internal guidance) In the first-quarter of 2015 Discover had an estimated 63.1 million U.S. credit/charge CIF.