Consumers credit card behavior improved since exiting the recession as evidenced by the growth of credit card limits in particular among the subprime credit card market. Yet, even with the solid improvements, the year-over-year figures indicate a slight increase in delinquency rates. Experian found the first six months of 2016 has shown that the total…
Profits (after tax) among the nation’s top four bank credit card issuers declined 8.0% in the first quarter (1Q/16), compared to one year ago (YOY), and down 10.8% sequentially (QOQ). BofA was the only issuer with a positive YOY gain in credit card profits. Citi credit card profits collapsed by more than 30% YOY in…
The average yield among the nations’s big six bank credit card issuers came in at 11.14% for the first quarter (1Q/16), compared to 10.96% in the prior quarter, and 11.00% for 1Q/15. Capital One (COF), the nation’s fastest growing major credit card issuer, again posted the highest yields, besting the average by 329 basis points…
A new report says consumers nowadays are shifting to more convenient ways to pay for products and services, and this include the use of credit cards. However, rapid advancements in technology pose security threats, thus influencing spending trends. Four credit services equities are signifcant: Capital One, CIT Group, Equifax and Fifth Street Finance Corp. Capital…
U.S. Purchase Dollar Volume (PDV), credit and debit cards, among the Big 6 U.S. card issuers, rose 7.5% year-on-year (YOY) for the first quarter (1Q/16). Capital One completely blew out the Big 6 pack by a nearly 2-to-1 margin. The Big 6 U.S. issuers racked up $479.8 billon in PDV for 1Q/16, compared to $520.6…
The average yield among the nations’s Top 4 bank credit card issuers declined 9 basis points (bps) sequentially at 11.49% for the first quarter (1Q/16), compared to 11.58% for the prior quarter, and 11.54% for 1Q/15. Capital One (COF), continues to lead the Top 4 with a 14.43% 1Q/16 yield while BofA was at the…
U.S. Credit Cards-in-Force (CIF) among the Top 4 issuers edged up by a mere 1.9% year-on-year (YOY) at the end of the first quarter (1Q/16) to an estimated 236.1 million cards, compared to 232.9 million in 4Q/15, and 231.6 million for 1Q/15. Capital One blew the other three top issuers away in the first quarter,…
U.S. Gross Dollar Volume (GDV) among the top four bank credit card issuers, rose an estimated 9.9% year-on-year (YOY) in the first quarter (1Q/16). The growth was driven by Capital One’s explosive growth. The top four U.S. issuers racked up an estimated $295.2 billon in GDV for 1Q/16, compared to $322.5 billion in 4Q/15 and…
U.S. Purchase Dollar Volume (PDV) among the top four U.S. bank credit card issuers, rose 10.0% year-on-year (YOY) in the first quarter (1Q/16). Capital One PDV grew more than 20% YOY, while Chase and Citi also scored double digit gains. The top four U.S. issuers racked up $281.4 billon in PDV for 1Q/16, compared to $307.3…
U.S. credit card outstandings end-of-period (EOP) among the Big 6 issuers increased 1.5% in the first quarter (1Q/16) year-on-year (YOY) to $468.3 billion. The weak aggregate gain resulted from the huge YOY drop in American Express outstandings offset by the huge YOY gain in Capital One outstandings. The Big 6: American Express, Discover, Chase, Bank…
Capital One’s (COF) international (U.K.) credit card average yield and interest margin soared quarter-to-quarter (QTQ), and year-on-year (YOY) in the first quarter (1Q/16). However, other COF international credit card portfolio metrics soften and headed south for the quarter, particularly delinquency and charge-offs. COF gross revenues for the international card business edged up 10.1% YOY in…
Among the biggest bank credit card issuers in the U.S., Capital One (COF) continues to lead the way in every metric, except charge-offs. Based on its current trajectory, COF will likely surpass Bank of America (BofA) as the nation’s second largest issuer. COF posted double digit year-on-year (YOY) gains in outstandings (OUT) and purchase dollar…