Second-quarter 90+ card delinquency climbed to its highest level in more than five years for a second-quarter, jumping 25 bps (basis points), signaling higher charge-offs in the near-term and possibly well into 2023. After hitting a seven-year record of 1.29% for the past two quarters, the late-stage delinquency rate seasonally nudged down by 11 bps…
U.S. credit card delinquency among the Top 100 U.S. issuing banks in the second-quarter edged down 2 basis points (bps) sequentially, and up 8 bps YOY (year-on-year). Nonetheless, the seasonally adjusted (SA) delinquency ratio is the highest since the first-quarter of 2013, according to the Federal Reserve. Second-quarter card delinquency among the nation’s Top 4…
Consumer credit card losses, or charge-offs, among the Top 100 U.S. banks, are continuing to rise to levels for a second-quarter not seen since 2013. Meanwhile, delinquency, the precursor of charge-offs, is also hovering at six-year highs. The trends are concerning to card issuers as it adds more evidence the U.S. economy is headed into…
U.S. card yield, as an average for the nation’s Top 4 issuers, remained at record levels in the second-quarter despite a small downtick sequentially. All of the issuers posted lower yields in the second-quarter from the prior quarter. However, this is fourth consecutive quarter wherein all of the Top 4 exceeded 10%. The U.S. Top…
Second-quarter card charge-offs among the Top 4 U.S. bank credit card declined slightly from the prior quarter, a historical pattern, but up double-digits from one-year ago, remaining the highest for a second-quarter in seven years. Credit card charge-offs among the nation’s Top 4 credit card issuers dipped 2 bps (basis points) sequentially in the second-quarter…
Second-quarter card loan growth, among the Top 4 U.S. issuers, grew a paltry 2.6% year-on-year (YOY), compared to 3.4% YOY in the prior quarter, and compared to 4.8% YOY one-year ago. Among the nation’s Top 4 credit card issuers (Chase [JPM], Capital One [COF], Bank of America [BAC], and Citibank [C]), the annual growth rate…
Second-quarter card delinquency among the nation’s top credit card issuers dipped from the prior quarter, due to seasonality and increasing balances. However, over the past five years, the second-quarter delinquency ratio has been on an upward trend, rising 35 bps (basis points) from the second-quarter of 2015. It is the highest second-quarter ratio for more…
Active cards, or credit card accounts with sales activity, among the Big 6 U.S. issuers, increased 3.5% year-on-year (YOY) in the first-quarter (1Q/19), compared to a record of about 14% YOY in 2018. However, Discover’s nearly 9% CAGR in organic growth and by Citibank’s approximate 10% CAGR produced by acquisitions. On a YOY basis. American…
Open card accounts in the U.S. for the Big 6 issuers grew by 10 million in 2018. Over the past five years, gross open accounts (GAC) for U.S. credit cards among the nation’s six largest issuers expanded by 43.4 million. In the first-quarter (1Q/19) the year-on-year (YOY) gain in GAC was 3.6%. At the end…
Big 6 card issuers grew 4.0% year-on-year (YOY) at the end of the first-quarter (1Q/19) bring U.S. credit cards to 350.0 million. Since the first-quarter of 2018, the nation’s largest issuers have added 13.5 million cards-in-force (CIF). In the prior quarter total CIF stood at 345.7 million. The Big 6: Chase [JPM], Capital One [COF],…
Credit card GDV (gross dollar volume) among the Big 6 U.S. bank card issuers, rose an estimated 8.0% year-on-year (YOY) in the first-quarter (1Q/19), compared to a 10.5% YOY gain for 1Q/18; 10.0% YOY increase in 1Q/17; and a 5.9% YOY gain for 1Q/16. Chase led the peer group with a YOY gain nearing 10%…
Second-quarter 90+ card delinquency declined for three top credit card issuers reporting thus far. Chase dropped 10 bps (basis points), Bank of America declined 8 bps and Citibank slipped 7 bps in the second-quarter (2Q/19) compared to the prior quarter for late stage (90+ days) delinquency. Historically, delinquency ratios decline in the second-quarter as the…