Dozens of credit unions, some with as few as 300 members, are now offering the FICO Score Open Access program to their customers as a way to empower them to take control of their financial health. To-date 180 million consumer accounts are now getting their FICO Scores for free. The FICO Score Open Access program…
Wells Fargo third quarter (3Q/16) consumer credit card purchase dollar volume (PDV) was up 7.1% year-on-year (YOY) as purchase transactions (PTX) rose by 11.4%. Active mobile users of Wells Fargo surged 17.5% YOY. Average consumer credit card 3Q/16 outstandings grew 8.4% YOY to $35.0 billion, compared to $34.1 billion for 2Q/16 and $32.3 billion for 3Q/15.…
U.S. consumer revolving credit card soared in August, growing at an annual rate of +7.0%, compared to a revised +3.4% annual rate in July and a revised +11.4% annual rate in June. Overall consumer credit increased at a seasonally adjusted annual rate of +8.5% in August. Non-revolving credit increased at an annual rate of +9.0%.…
Synchrony Financial’s retail credit card business revenues posted an 11.2% year-on-year (YOY) gain for the third quarter (3Q/16) to $2.79 billion. Retail card outstandings continue to be aided by the recent acquisition of the BP portfolio during the second quarter. During the quarter Synchrony renewed key relationships – TJX Companies, hhgregg, Nationwide Marketing Group and…
Australian credit card outstandings rose by 1.4% year-on-year (YOY) in August. Credit card credit limits increased 2.7% YOY and the number of credit card accounts rose 2.7% YOY in August. Article – Australian credit card outstandings rose by 1.4% year-on-year (YOY) in August. Credit card credit limits increased 2.7% YOY and the number of credit…
Dallas-based Alliance Data Systems (ADS) reported a third quarter (3Q/16) year-on-year (YOY) surge in credit card outstandings, purchase dollar volume (PDV) and Card Services revenue. Overall revenue and income were pressured by currency exchange rates (FX). ADS reported gross revenue rose 18.7% YOY in 3Q/16 to $1886 million, compared to $1749 million for 2Q/16, and…
The impact of the loss of the U.S. Costco and JetBlue programs continues to manifest itself in the American Express (AmEx) U.S. Card Services (USCS) unit during the third quarter (3Q/16). Revenue and income declined significantly year-on-year (YOY) as outstandings (OUT) also took a big hit, all by double-digits. AmEx reported 3Q/16 gross revenue for…
U.K. consumer credit continued to expand at a brisk pace in August, topping 10% year-on-year (YOY). In August total consumer credit grew to £187.9 billion. The three-month annualized and twelve-month growth rates, seasonally adjusted (SA), were 10.4% and 10.3% respectively. The Bank of England (BOE) reports consumer credit increased by £1.6 billion in August, in…
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 substantial YOY gain in credit card outstandings (OUT) for the third quarter (3Q/16). Payment Services includes consumer and business credit cards, stored-value cards, debit cards, corporate, government and purchasing card services, consumer…
Australian credit card gross dollar volume (GDV) rose 9.9% year-on-year (YOY) in August. Purchase dollar volume (PDV) increased 10.2% YOY and cash dollar volume (CDV) declined 0.2% YOY in August. GDV rose in August to AU$27.6 billion, compared to a revised AU$24.3 billion in the prior month and a revised AU$25.1 billion one-year ago. PDV…
A new survey finds cross-border e-commerce has become prevalent among consumers around the world. It’s no surprise that consumers frequently make domestic online purchases (94%), however more than two-thirds (66%) of consumers that have ever made a domestic online purchase have also made an online purchase from another country in the past year. The third…
Bank card delinquencies edged up 1 basis point to 2.48 percent of all accounts in the second quarter. They remain significantly below their 15-year average of 3.70 percent. According to results from the American Bankers Association’s Consumer Credit Delinquency Bulletin, delinquencies in closed-end loans fell slightly in the second quarter, driven by a drop in…
