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…
The Financial Obligations Ratio (FOR) and the Debt Service Ratio (DSR) for the third quarter (3Q/16) edged upward, but continue to hover at near record lows. According to the Federal Reserve, on a seasonally adjusted basis, the FOR slipped upward to 15.44% in 3Q/16, compared to 15.43% in 2Q/16 and 15.39% in 3Q/15. The DSR…