U.S. consumer revolving credit card soared in June, growing at an annual rate of +9.7%, compared to a revised +2.2% annual rate in May and a revised +1.3% annual rate in April. Overall consumer credit increased at a seasonally adjusted annual rate of +4.1% in June. Non-revolving credit increased at an annual rate of +2.1%.…
U.S. Credit Cards-in-Force (CIF) among the Big 6 issuers grew 1.5% year-on-year (YOY) at the end of the first quarter (1Q/16), up 5.4 million cards YOY to 354.9 million cards. This compared to 352.6 million in 4Q/15 and 349.5 million for 1Q/15. Capital One was the only issuer to post a solid YOY gain…
Charge-offs among the nation’s top 6 issuers jumped 19 basis points (bps) year-on-year (YOY) to 2.86% for the first quarter (1Q/16), and up 2 bps sequentially. All six issuers posted sharply higher charge-offs in the first quarter. The Chase 1Q/16 charge-offs ratio inched up by 20 bps from 4Q/15 and flat from 1Q/15. Chase reported…
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…
U.S. credit card marketshare, based on purchase dollar volume (PDV) among the top 4 U.S. bank credit card issuers, shows Citi was the only issuer with a positive gain in the first quarter (1Q/16), compared to the prior quarter. While Chase continues to hold a commanding 24.5% marketshare for 1Q/16, there was a 10 basis…
U.S. Gross Dollar Volume (GDV) among the big six U.S. bank card issuers, rose an estimated 5.9% year-on-year (YOY) but down 8.1% sequentially in the first quarter (1Q/16). Capital One grew more than twice than the other five. Capital One, like most bank credit card issuers, only reports purchase dollar volume (PDV). The top six…
Average early stage delinquency (30+ days) for the first quarter (1Q/16), among the nation’s Top 4 issuers, dropped 9 basis points (bps) sequentially, and dropped year-on-year (YOY) by 1 bps. Two of the Top 4, reported declines. The nation’s largest issuer, Chase, reported delinquency increased to 1.45% in 1Q/16, compared to 1.43% for 4Q/15 and…
U.S. credit card outstandings end-of-period (EOP) among the Top 4 U.S. issuers gained 4.0% in the first quarter (1Q/16) year-on-year (YOY) to $362.0 billion. The gain was driven entirely by Capital One, positioned to become the nation’s second largest issuer, based on outstandings, by end-of-year (EOY) 2016. BofA, the current second largest issuer, continues to…
Gross or open accounts (GAC) for U.S. credit cards among the nation’s four largest issuers were flat year-on-year (YOY) in the first quarter (1Q/16) to 190.0 million, compared to 189.9 million one-year ago. The GAC growth is driven by Capital One, while Chase, Bank of America (BofA) and Citibank face YOY and quarter-to-quarter (QTQ) GAC…
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. 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…
The average yield among the nations’s top six bank credit card issuers came in at 11.30% for the fourth quarter (4Q/15), compared to 11.26% in the prior quarter, and 11.12% for 4Q/14. Capital One (COF), the nation’s fastest growing major credit card issuer, again posted the highest yields, besting the average by 301 basis points…