First-quarter BofA card metrics were lackluster at best. Bank of America (BofA), the nation’s third largest Visa and MasterCard issuer, posted no growth in outstandings, subpar growth in purchase dollar volume (PDV), increasing delinquency rates and rising charge-off ratios. The bright spot is credit card yield continues marching upward, approaching 11%, rising 87 basis points…
First-quarter Citi cards in North America (N.A.) reported lackluster metrics however there was a significant uptick in yield and net interest revenue ratios, driven by continued growth in interest-earning balances. Citi-branded N.A. credit cards also posted a moderate increase in delinquency, but charge-offs notched-up for the first-quarter (1Q/19). Credit card revenue was up 1% year-on-year…
First-quarter Chase volume for U.S. credit cards rose nearly 10% and outstandings were up 7% as charge-offs and loan loss reserves increased and credit card revenue was flat, compared to one-year ago. Chase U.S. credit card purchase dollar volume (PDV), excluding business cards, increased 9.8% YOY to $172.5 billion for 1Q/19, compared to $185.3 billion…
First-quarter rates for U.S.-issued major credit cards (Visa, MasterCard, American Express, Discover) increased by 146 basis points (bps) between the first quarter 2018 (1Q/18) and 1Q/19, as the U.S. prime rate increased by 75 bps. The average credit card rate charged by the nation’s Top 100 banks hit 15.09% in 1Q/19, compared to 13.63% for…
U.S. credit cards-in-force (CIF) among the Top 4 U.S. issuers slowed up in 2018, growing 2.7% year-on-year (YOY), compared to 4.8% in the prior year. For the fourth quarter (4Q/18) and among the Top 4 U.S issuers there were an estimated 228.2 million credit U.S. CIF, compared to 226.3 million in 3Q/18, and 222.3 million…
As a peer group, the Big 6 U.S. issuers (Chase [JPM], Capital One [COF], Bank of America [BAC], Citibank [C], Discover [DFS], American Express [AXP]), control 52.6% of the U.S. credit card market based on 4Q/18 outstandings, compared to a 54.8% credit card marketshare for the third quarter, and 56.0% for 4Q/17. The Big 6…
Average credit card Q4 yield, among the nations’s Big 6 bank card issuers, edged up by 10 basis points (bps) sequentially at 12.06% and up 66 bps year-on-year (YOY) for the fourth quarter (4Q/18), compared to 11.96% for the prior quarter, and 11.40% for 4Q/17, according to data gathered by CardData. The U.S. Big 6…
Capital One volume for the final quarter of 2018 (4Q/18) posted a solid 10.8% year-on-year (YOY) gain in gross dollar volume (GDV), which includes purchases and cash advances. The nation’s second largest issuer topped the $100 billion quarterly GDV mark for the first time, according to figures compiled by CardData. Capital One is also the…
Credit card fee income nudged down in 2018 by 60 basis points (bps), compared to the prior year, but has climbed 8.7% over the past five years, topping $100 billion for the first time in 2017, according to data gathered by CardData. The decline for 2018 was directly attributable to reduced penalty fees (mostly late…
While, credit card write-offs, or charge-offs, have been hanging around the 3.50% level over the past four years, the steady rise in credit card delinquency is changing the outllook for the next two years. Both early-stage (30-89 days) and late-stage (90-180 days) delinquency are setting four year highs. The Top 4 (Chase, Capital One, Bank…
Canadian credit card purchase dollar volume (PDV) for Visa Mastercard payment cards (credit cards + debit cards) posted weaker than expected performance in the fourth quarter (4Q/18) up 5.5% on a nominal basis or 8.3% currency adjusted (FX) year-on-year (YOY). Sequentially, nominal and FX YOY increases were 4.9% and 9.9%, respectively, Canadian payment cards-in-force (CIF)…
U.S. credit card marketshare, based on purchase dollar volume (PDV) among the top 4 U.S. bank credit card issuers, shows Capital One the only issuer with a positive gain in the fourth quarter (4Q/18), compared to the prior quarter. Top 4 Peer Group Marketshare As a peer group, the Top 4 U.S. issuers (Chase, Capital…