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, according to CardData. AmEx reported 3Q/16…
The Big 6 issuers, based on U.S. total outstandings of $979 billion, control 50.8% of the U.S. bank credit card business at the end of the third quarter (3Q/16), the same as one-year ago, according to CardData. There has been clear shift among the peer group with Capital One and Citibank snatching marketshare from the others.…
Charge-offs among the nation’s top four U.S. issuers inched up six basis points (bps) year-on-year (YOY) to 2.74%, but down significantly 32 bps sequentially for the third quarter (3Q/16). All four issuers reported sharply lower credit card losses from the prior quarter. A huge decline in Citibank losses, related to its Costco card acquisition, drove…
Visa’s U.S. payment card (credit+debit) purchase dollar volume (PDV), for the third quarter (3Q/16), logged its highest year-on-year (YOY) gain in more than three year. Even though the big Visa issuers struggle with stagnant growth in accounts (GAC) and cards-in-force (CIF), Visa continues to hover near double-digits YOY. Visa’s U.S. gross dollar volume (GDV) increased…
The nation’s four major payment card networks produced $1483 billion in U.S. gross dollar volume (GDV) in the third quarter (3Q/16) for a 5.9% year-on-year (YOY) gain, according to CardData. Visa continues to rule the market, growing its U.S. GDV marketshare from 58.7% in 3Q/15 to 60.8% in 3Q/16, largely at the expense of American…
Mastercard’s U.S. purchase dollar volume (PDV) quarterly year-on-year (YOY) growth has been spiraling down this year tumbling to 4.8% in the third quarter, compared to 7.9% for 3Q/15, 8.2% for 3Q/14, and 9.1% for 3Q/13. Mastercard reported gross dollar volume (GDV) also declined to a 4.8% gain YOY, compared to 7.5% YOY in 2Q/16 and…
Early stage delinquency (30+ days) among the nation’s top 6 issuers rose sharply by 15 basis points (bps) sequentially in the third quarter (3Q/16) to 1.89%, and up 12 bps above last year’s 1.77%, according to CardData. Five of the Big 6, including Chase, Bank of America, Capital One. American Express, and Discover, posted higher…
The charge-off rate, seasonally adjusted (SA), among the top 100 U.S. banks for the third quarter (3Q/16) increased 8 basis points (bps) sequentially (QTQ), and up 11 bps year-on-year (YOY). On a not seasonally adjusted basis (NSA), the charge-off rate among the top 100 U.S. banks for 2Q/16, dropped 26 bps QTQ and up 12…
U.K. consumer credit continued to expand at a brisk pace in October, topping 10% year-on-year (YOY). In October total consumer credit grew to £190.1 billion. The three-month annualized and twelve-month growth rates, seasonally adjusted (SA), were 10.6% and 10.5% respectively. The Bank of England (BOE) reports consumer credit increased by £1.6 billion in October, in…
The 30+ day delinquency rate, seasonally adjusted (SA), among the top 100 U.S. banks for the third quarter (3Q/16) increased 10 basis points (bps) sequentially (QTQ), and up 19 bps year-on-year (YOY). On a not seasonally adjusted basis (NSA), the delinquency rate among the top 100 U.S. banks for 3Q/16, soared 24 bps QTQ and…
Australian credit card outstandings rose by 1.6% year-on-year (YOY) in October. Credit card credit limits increased 2.3% YOY and the number of credit card accounts rose 2.6% YOY in October. The average balance per account in October declined 1.0% YOY to AU$3070, compared to AU$3074 for September, and AU$3102 for October 2015. Credit card outstandings for…
U.S. consumer revolving credit, mostly credit card debt, hit the brakes in October, growing at an annual rate of +2.9%, compared to a revised +5.0% annual rate in September and a revised +6.9% annual rate in August. Overall consumer credit increased at a seasonally adjusted annual rate of +5.2% in October. Non-revolving credit increased at…