U.S. consumer revolving debt for July, mostly credit card debt (95%), remained above the $1 trillion level for the fifth consecutive quarter. The year-on-year (YOY) change edged slightly upward in July. Consumer revolving credit increased at an 1.5% annual rate of growth in July, compared to a revised -1.4% annual rate in June and a…
Payment card transactions (PTX) for Visa and Mastercard credit and debit cards in the U.S. grew by 9.5% year-on-year (YOY) in the second quarter (2Q/18) to 24.1 billion. The growth was driven by Mastercard credit and debit cards. U.S. payment card purchase transactions for Visa and Mastercard (debit+credit) hit 24,067 in 2Q/18, compared to 22,221…
European Credit Cards Q2 for Visa and Mastercard posted strong year-on-year (YOY) gains for the second quarter (2Q/18). On a non-currency adjusted basis (NFX), gross dollar volume (GDV) rose 16.5% YOY, purchase dollar volume (PDV) increased 19.2% YOY, and cards-in-force (CIF) climbed 6.1% YOY. On a currency adjusted basis (FX), Visa GDV rose 7.3% YOY…
(Updated 9/6/18) Credit card profits (after tax) among the nation’s top four bank credit card issuers soared 20.0% in the second quarter (2Q/18), compared to one year ago (YOY). While Chase credit card profits edged down, Capital One profits skyrocketed by 83% YOY. Aggregate credit card profits (after tax) for the top four issuers logged…
The average late stage U.S. credit card delinquency (90+ day) among the nation’s six largest issuers edged up 2 basis points (bps) sequentially, to 1.00% for the second quarter (2Q/18), and down 8 bps from one-year ago (YOY). The 90+ day delinquency crossed the 1.00% milestone in 4Q/16, the first since 2009. The Chase 90+…
Purchase dollar volume (PDV) for Visa, Mastercard, American Express and Discover cards (credit + debit) globally rose 13.7% year-on-year (YOY) on a nominal dollars basis for the second quarter (2Q/18). However, on a currency adjusted basis (FX), global 2Q/18 PDV increased 12.1% YOY. The major four U.S.-based global networks posted $3511 billion in global PDV…
Visa and Mastercard purchase dollar volume (PDV), currency adjusted (FX), in the Latin American Caribbean (LAC) region skyrocketed in the second quarter (2Q/18) with year-on-year (YOY) growth in double digits. Mastercard has been slowly gaining on Visa in the LAC, eroding Visa’s marketshare in the LAC region, based on nominal PDV, to 61% at end-of-year…
U.K. consumer credit growth continued its downward spiral in July, dropping to 8.5% year-on-year (YOY), its lowest level this year and well below the peak of 10.8% YOY set in November 2016. For July, driven by the Brexit fallout, the decline was 50 basis points (bps) sequentially, and flat YOY. However, according to the July…
The average yield among the nations’s big six bank credit card issuers came in at 11.42% for the second quarter (2Q/18), compared to 11.66% in the prior quarter, and 11.37% for 2Q/17. Capital One (COF), the nation’s fastest growing major credit card issuer, and Discover (DFS), one of best managed portfolio again, posted the highest…
Profits for the top four networks were all over the map year-on-year (YOY) in the second quarter (2Q/18). The network peer group net income (after tax) soared 20.8% YOY for 2Q/18, largely driven by Mastercard. Visa, Mastercard, American Express and Discover reported a combined 2Q/18 (after tax) profit of $6190 million, compared to $6397 million…
The 30+ day delinquency rate, seasonally adjusted (SA), among the top 100 U.S. banks for the second quarter (2Q/18) increased seven basis points (bps) sequentially (Q2Q), and flat year-on-year (YOY). On a not seasonally adjusted basis (NSA), the delinquency rate among the top 100 U.S. banks for 2Q/18, decreased 19 bps Q2Q and down 19…
Charge-offs among the nation’s top four U.S. issuers edged up seven basis points (bps) year-on-year (YOY), but down 11 bps sequentially for the second quarter (2Q/18). For the top four issuers (Chase, BofA, Capital One, Citibank), average charge-offs were 3.55% for 2Q/18, compared to 3.66% for 1Q/18 and 3.48% for 2Q/17. The Chase 2Q/18 charge-offs…