Credit Cards CIF

Second-Quarter Credit Cards CIF Grow at Bottom and Top

Second-quarter credit CIF (cards-in-force) continue to grow despite a saturated U.S. market driven by an expanding sub-prime marketplace and the aggressive marketing of high-end rewards cards. Over the past year, the total CIF is up by more nearly 24 million, and growing more 300 basis points (bps) over the prior twelve-month period. Mastercard is blowing…

Second-Quarter PDV

Second-Quarter PDV Declines 200 bps YOY U.S. CAGR 8.78%

Second-quarter PDV (purchase dollar volume) for the U.S. payment cards (credit+debit+charge+prepaid) grew 9.1% YOY (year-on-year), compared to 11.1% one-year ago. Mastercard picked up 90 bps (basis points), while Discover declined 440 bps during the same period. The Major 4 U.S.-based payment card networks: Visa [V]; Mastercard [MA]; American Express [AXP]; and Discover (DFS) collectively posted…

Second-Quarter Global Cards

Second-Quarter Global Cards +6.5% U.S. Debit +11% YOY

Second-quarter global cards among the Major 4 U.S. payment networks expanded by 347 million credit and debit cards-in-force (CIF) over the past twelve months. The Major 4 (Visa [V], Mastercard [MA], American Express [AXP], Discover/Diners [DFS]), global payment cards grew 6.5% year-on-year (YOY) in the second-quarter (2Q/19). Second-Quarter Global Cards Growth Analysis The Major 4…

Second-Quarter Global Volume

Second-Quarter Global Volume FX Down 10 bps & CAGR Slips

Second-quarter global volume on a currency adjusted basis (FX) for the Major 4 U.S. based networks was essentially flat year-on-year (YOY) down by 10 basis points (bps), compared the prior year. American Express posted the only YOY FX gain in global gross dollar volume (GDV) of nearly 200 bps. Global payment card (credit+debit+charge+prepaid) GDV for…

Active Cards Big 6 U.S.

Active Cards for Big 6 Lifted By Discover’s 9% CAGR

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…

Big 6 Card Issuers

Big 6 Card Issuers Expand Base by 13.5MM with +3.3% GAGR

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

Credit Card GDV Among Big 6 U.S. Issuers Pumps the Brakes

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%…

90+ Day Card Delinquency

Second-Quarter 90+ Card Delinquency Edges Down Still at Record Highs

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…

Card Loan Growth

Card Loan Growth Downshifts to 5.56% CAGR – Upshifts in Q2

U.S. card loan growth among the Big 6 credit card issuers increased 3.5% in the first-quarter (1Q/19) year-on-year (YOY), compared to a 8.0% YOY for the year ago quarter. Early results for the second-quarter reveal Chase U.S. credit card outstandings grew 8.5% YOY, Citibank is up 2.8% YOY, and Bank of America was flat (+0.7%).…

Second-Quarter Card Delinquency

Second-Quarter Card Delinquency Mixed Bag No Surprises

Second-quarter card delinquency, as projected, will rise moderately among the nation’s Big 6 credit card issuers. Early results show the second-quarter (2Q/19) 30-day delinquency ratio for Chase at 1.71%, a 14 basis points (bps) decline from the prior quarter, but up 14 bps for Citibank to 1.66%. Early stage delinquency (30+ days) among the nation’s…