U.S. credit card outstandings end-of-period (EOP) among the Top 4 U.S. issuers gained 10.9% in the fourth quarter (4Q/16) year-on-year (YOY) to $417.2 billion, according to CardData. The gain was driven largely by Citibank as its acquisition of the Costco card portfolio from American Express has skyrocketed outstandings. BofA was unseated as the nation’s second…
A new report that reveals that small merchants are more concerned about value, and less concerned about price, when it comes to the fees that they pay for debit card transactions. The research by Javelin Strategy & Research and the Electronic Payments Coalition found small merchants want choice not price caps. Javelin says the Durbin…
The Financial Obligations Ratio (FOR) and the Debt Service Ratio (DSR) for the fourth quarter (4Q/16) edged downward and continue to hover at near record lows according to CardData. According to the Federal Reserve, on a seasonally adjusted basis, the FOR slipped downward to 15.40% in 4Q/16, compared to 15.41% in 3Q/16 and 15.40% in…
Delinquencies in bank cards (credit cards provided by banks) fell 5 basis points (bps) to 2.69% of all accounts, staying significantly below their 15-year average of 3.66%. However, delinquencies in closed-end loans (like auto and boat loans) rose. According to the American Bankers Association (ABA) among the 11 individual loan categories, delinquencies rose in all…
The charge-off rate, seasonally adjusted (SA), among the top 100 U.S. banks for the fourth quarter (4Q/16) increased 33 basis points (bps) sequentially (QTQ), and up 46 bps year-on-year (YOY). On a not seasonally adjusted basis (NSA), the charge-off rate among the top 100 U.S. banks for 4Q/16, surged 63 bps QTQ and up 58…
Cash transactions (CTX) for Visa and Mastercard U.S. credit and debit cards in the U.S. declined by 0.6% year-on-year (YOY) in the fourth quarter (4Q/16), according CardData. U.S. 4Q/16 credit card cash transactions were down 3.8% YOY, while U.S. debit card CTX decreased 0.5%. Visa’s 4Q/16 CTX for U.S. credit cards was down 5.9% YOY…
The 30+ day delinquency rate, seasonally adjusted (SA), among the top 100 U.S. banks for the fourth quarter (4Q/16) increased 4 basis points (bps) sequentially (QTQ), and up 18 bps year-on-year (YOY). On a not seasonally adjusted basis (NSA), the delinquency rate among the top 100 U.S. banks for 4Q/16, increased 9 bps QTQ and…
Suntrust, Regions and KeyCorp lead the credit card market among the top ten regional bank issuers. Suntrust logged in with $1.4 billion in outstandings with 2.33% in net charge-offs for the fourth quarter. Regions Bank logged in with $1.2 billion in outstandings with 3.63% in net charge-offs for the fourth quarter. Key Corp logged in…
Purchase transactions (PTX) for Visa and MasterCard credit and debit cards in the U.S. grew by 7.0% year-on-year (YOY) in the fourth quarter (4Q/16) to 21.3 billion. The growth was driven by credit cards, and more specifically Visa, according to CardData. U.S. purchase transactions for Visa and MasterCard payment cards (debit+credit) hit 21,311 in 4Q/16, compared…
U.S. gross transactions (GTX) for Visa and MasterCard credit and debit cards grew by 6.5% year-on-year (YOY) in the fourth quarter (4Q/16). U.S. GTX for credit cards jumped 16.0% YOY while U.S. GTX for debit cards increased 2.4% YOY in 4Q/16. Visa’s U.S. GTX for credit cards rose 21.6% YOY as U.S. GTX for debit…
Gross dollar volume (GDV) for Visa, MasterCard, American Express and Discover credit cards in the U.S. climbed 8.4% year-on-year (YOY) in 4Q/16 reaching a record $842 billion, according to CardData. Visa led the way in the fourth quarter posting a 19.4% YOY gain for U.S. GDV. Visa reported fourth quarter U.S. credit card GDV of…
Visa’s U.S. payment card (credit+debit) purchase dollar volume (PDV), for the fourth quarter (4Q/16), logged its highest year-on-year (YOY) gain in more than three years, according to CardData. Visa posted a 12.4% in YOY PDV gain in 4Q/16, compared to 9.7% YOY PDV gain in 4Q/15, 10.1% YOY PDV gain in 4Q/14, and 8.5% YOY…