Global Payment Cards (V+MA+AXP+DFS) Tops 5 Billion Up 6% YOY

Global payment cards-in force (CIF) [credit + debit] grew by 19.2% year-on-year (YOY) in the fourth quarter (4Q/16) to 4995 million. However, the figure for 4Q/16 includes 554 million for Visa Europe. (Visa added Visa Europe data as of 3Q/16.) Therefore, discounting Europe, the growth in global CIF was 6.0% YOY, adjusted, according to CardData.…

Despite Brexit Brits Pile On Credit Card Debt in Early 2017

U.K. consumer credit took a sharp turn north in February, despite the Brexit uncertainty, rising to its highest annual growth rate of the past twelve months. The year-on-year (YOY) rise jumped 260 basis points (bps) 20 in February. In February total consumer credit grew to £196.0 billion. The three-month annualized and twelve-month growth rates, seasonally…

U.S. Bank Consumer Credit Cards Expand as Q4 Acquiring Volume Slides

U.S. Bank (USB)’s Payment Services division reports explosive year-on-year (YOY) growth in consumer credit card gross dollar volume (GDV), as well as a double-digit YOY gain in credit card outstandings (OUT) for the fourth quarter (4Q/16), driven by acquisitions, according to CardData. Acquiring volume continued to decline for the third consecutive quarter. USB’s Payment Services…

Wells Fargo Q4 Credit Card Account Acquisitions Plummet on Sales Fraud

New consumer credit card accounts added by Wells Fargo in the fourth quarter (4Q/16) nose-dived by 47% year-on-year (YOY) reflecting reduced marketing activities and customer reaction to the sales practices settlement, according to CardData. Consumer credit card purchase dollar volume (PDV) was up 6.9% year-on-year (YOY) as purchase transactions (PTX) rose by 10.2% for 4Q/16. The…

Credit Card Revolvers Grow to 43% as Transactor Accounts Dip to 29%

New research reveal the number of new credit card accounts (those opened in the previous 24 months) rose 10.7% year-over-year to 87.3 million, with subprime account openings growing the fastest with 27 million new accounts.  Subprime accounts remain well below pre-recession levels, comprising 20% of total accounts – roughly equal to 2012 – while prime…