Gross Dollar Volume 3Q/18

Gross Dollar Volume for U.S. Credit Cards Growth Nears Double-Digits in 3Q

Gross dollar volume (GDV) for Visa, Mastercard, American Express and Discover credit cards in the U.S. climbed 9.9% year-on-year (YOY) in 3Q/18, compared to 9.4% YOY for 2Q/18, reaching $959 billion. American Express led the way in the third quarter posting a 10.8% YOY gain for U.S. GDV, while all the other networks posted high…

Credit Card Debt

U.S. Credit Card Debt Heads North a Tad in August – Total Consumer Debt to Top $4T

U.S. consumer credit card debt (revolving) for August, mostly credit card debt (95%), remained above the $1 trillion level for the sixth consecutive quarter. The year-on-year (YOY) change edged slightly upward in August. Consumer revolving credit increased at an 5.6% annual rate of growth in August, compared to a revised 1.6% annual rate in July…

Credit Card Marketshare U.S. 2Q/18

Credit Card Marketshare Holds Steady for Top Four U.S. Payment Networks

Credit card marketshare, among the nation’s four major payment card networks, produced $1747 billion in U.S. gross dollar volume (GDV) in the second quarter (2Q/18) for a 9.3% year-on-year (YOY) gain. Visa continues to rule the market, growing its U.S. GDV marketshare from 61.1% in 2Q/17 to 61.4% in 1Q/18. VISA Visa posted a 9.3%…

Cross-Border Transactions

Cross-Border Volume (FX) for Visa & Mastercard Transactions Slipped a Tad in Q2

Mastercard’s cross-border volume, on a currency adjusted basis (FX), soared in the second quarter (2Q/18) outpacing Visa by 158 basis points (bps) year-on-year (YOY). Sequentially, quarter-to-quarter (QTQ), Mastercard slipped a 121 bps, compared to Visa’s flat performance YOY. Cross-border transaction volume refers to payments and cash volume where the issuing country is different from the…

Big 6 Credit Card GDV

Credit Card Gross Dollar Volume Tracks with the U.S. Economy Entering Double-Digit Growth YOY

Credit card gross dollar volume (GDV) among the big U.S. six U.S. bank card issuers, rose an estimated 10.7% year-on-year (YOY) in the second quarter (2Q/18). Capital One led the peer group with a high double-digit growth YOY in 2Q/18, followed by Chase and American Express, respectively. Chase, Bank of America (BofA), Capital One and Citibank…

Credit Card Rates Rise Nationally

Credit Card Rates Rise Nearly 150 bps YOY or 2X Prime Rate Increase

Nominal credit card rates among banks and credit unions nationally increased 137 basis points (bps) in the second quarter (2Q/18) year-on-year (YOY) while rates assessed on accounts with balances rose 154 bps over the same period. Sequentially, nominal interest rates rose 51 bps as accessed credit card rates increased 22 bps. Nominal credit card interest…

Credit & Debit Cards Globally

Circulation of Payment Cards Worldwide Rises 6% YOY in Q2 & to Top 5.5 billion EOY

Payment cards worldwide or cards-in force (CIF) [credit + debit] grew by 6.4% year-on-year (YOY) in the second quarter (2Q/18) to 5412 million, compared to 5323 million for 1Q/18 and 5088 million, one-year ago. All the four major U.S. based payments networks posted gains in 2Q/18, according to CardData. Visa and MasterCard Rule the Planet…

Credit Card Yield Remains Solidly 11%+ in 2018 with Capital One the Driving Factor

The average credit card yield among the nations’s Top 4 bank card issuers declined 30 basis points (bps) sequentially at 11.31%, but up 12 bps year-on-year (YOY) for the second quarter (2Q/18), compared to 11.61% for the prior quarter, and 11.19% for 2Q/17. Capital One (COF), continues to lead the Top 4 with a 15.05%…

Australian Credit Card Debt Sputters

Australian Credit Card Debt Languishes as Consumer Confidence Wanes But Credit Card PDV Marches Upward

Australian credit card debt growth is sluggish while credit card usage is continues to grow slowly. Credit card outstandings grew 0.8% year-on-year (YOY) in July, while credit card purchase dollar volume (PDV) rose 7.2% YOY. According to figures released yesterday by the Reserve Bank of Australia (RBA), credit card credit limits were flat in July…