Sub-Prime Cards

Sub-Prime Cards Consumer Debt Soar – Rate Caps?

Sub-prime cards are gathering more steam as a major deal closes. Credit card debt skyrocketed in December by a record 14%. Majority of Americans want a 36% rate cap. Women in Payments recently recognized exceptionally talented leaders and rising stars in Fintech and Banking. Despite years of warnings, those computers inside your computer remain disturbingly unprotected.…

Credit Card Profits

Credit Card Profits Shrivel Amongst Intense Competition

Credit card profits (after tax) among the nation’s Top 4 bank credit card issuers shriveled by 4.2% YOY (year-on-year) in the third-quarter (3Q/19), compared to 44.0% one-year ago. The surge in 2018 was directly related to the corporate tax cuts. Profits (after tax) among the nation’s Top 4 U.S. credit card issuers (Chase [JPM]; Capital…

Third-Quarter Earnings Reports

Third-Quarter Earnings Reports for Payments Hit Next Week

Third-quarter earnings reports for the nation’s top credit card issuers, global payments networks and supporting businesses gets underway before the market opens on Tuesday, October 15th. First out of the shoot, is Chase (JPM), Citibank (C) and Wells Fargo (WFS), according to PYRPTS.com and CardData. Among, the four global payment networks, American Express (AXP) will…

Payment Network Profts

Second-Quarter Payment Network Profits Rise Nearly 24%

Second-quarter payment network profits among the global U.S.-based Major 4: Visa [V], Mastercard [MA], American Express [AXP] and Discover [DFS], soared 23.8% year-on-year (YOY), and now growing at an 12.80% CAGR (compound annual growth rate), based on the past five years. The Major 4 reported a combined second-quarter (2Q/19) (after tax) profit of $7663 million,…

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%…

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 Profits

Second-Quarter Card Profits for Networks & Issuers to Post Robust

Second-quarter card profits for the four largest U.S.-based payment card networks and the four largest credit card issuers will likely post robust performance. Consumer confidence indices, government data, and retail sales activity point to strong growth in PDV (purchase dollar volume) for the payment networks and sharp increases in cardholder balances for card issuers, reflecting…