First-Quarter US Credit Card Volume

First-Quarter US Credit Card Volume Slows 280 bps YOY & 8.8% CAGR

First-quarter U.S. credit card volume, among Visa [V], Mastercard [MA], American Express [AXP], and Discover [DFS], dipped a bit to a 7.0% year-on-year (YOY) gain. The Major 4 payment networks posted a 9.8% YOY increase in the first-quarter 2018 (1Q/18), a 9.4% YOY gain in 1Q/17 and an 8.6% jump in 1Q/16. According to figures…

First-Quarter Discover Card

First-Quarter Discover Card U.S. Loans and Yield Remain Vibrant

First-quarter Discover card continues to plug forward with solid metrics on all fronts except charge-offs. Discounting the seasonality of the first-quarter (1Q/19), Discover (DFS) reported high single figure gains in purchase dollar volume (PDV), U.S. credit card outstandings and PULSE transaction dollar volume. DFS total revenue rose 7.3% YOY to $2763 million, compared to $2807…

First-Quarter Capital One Card

First-Quarter Capital One Card U.S. Outstandings & Revenue Growth Grinds Lower

First-quarter Capital One card results reveals the once “fastest growing U.S. credit card issuer” for many years has been in a major downshift for the past five years. The mediocre first-quarter (1Q/19) produced a year-on-year (YOY) growth rate in Capital One (COF) end-of-period (EOP) U.S. credit card outstandings of 2.6%, compared to 5.9% YOY for…

First-Quarter American Express

First-Quarter American Express GCSG Profit Flat – U.S. Robust

First-quarter American Express GCSG (Global Card Services Group) gross revenue posted a solid year-on-year (YOY) gain but after-tax net income gained a mere 60 basis points (bps) in the first quarter (1Q/19), according to figures gathered by CardData. In the U.S. market, American Express (AXP) racked up a double-digit gain in credit/charge card outstandings, a…

First-Quarter USB Payment Services

First-Quarter USB Payment Services Profits and ROAA Sag

First-quarter USB Payment Services profits dropped 5% year-on-year (YOY) as return-on-average-assets (ROAA) slipped 78 basis points (bps) compared to the fourth-quarter (4Q/18). The weakness for U.S. Bank was driven by softness in the consumer credit card business. However, strong merchant acquiring and corporate card activity mitigated an otherwise very soft quarter. Payment Services includes consumer…

First-Quarter Wells Fargo Cards

First-Quarter Wells Fargo Cards Above Par Peer Performance

First-quarter Wells Fargo cards posted solid year-on-year (YOY) gains across-the-board in all portfolio metrics. Purchase dollar volume (PDV) for both Wells Fargo (WFC) credit and debit cards were up 8% YOY and 6% YOY, respectively, for the first quarter (1Q/19). The performance was boosted by its American Express Propel card. WFC U.S. total credit card…

First-Quarter BofA Card Metrics

First-Quarter BofA Card Metrics Uninspiring

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

First-Quarter Citi Cards Posts Solid Metrics Fueled By Yield

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…

Chase First-Quarter

First-Quarter Chase Volume and Credit Card Metrics Solid

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…

Credit Card Rates and Sreads

First-Quarter Rates Set New Records

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…

Credit Cards-in-Force

Credit Cards-in-Force Continue to Saturate U.S. Market Up 3% for Top 4 Q4

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…

Credit Card Marketshare

Credit Unions & Smaller Banks Nibble Away at Big 6 U.S. Credit Card Q4 Marketshare

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…