Consumer Credit Card Debt Solidly Above $1T; But Plateaued in June; +4.9% YOY Quarterly

U.S. consumer revolving credit for June, mostly credit card debt (95%), remained above the $1 trillion level for the fifth consecutive quarter. However, the year-on-year (YOY) change edged downward in June. Consumer revolving credit decreased at an 0.2% annual rate of growth in June, compared to a revised +11.2% annual rate in May and a…

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Top 4 U.S. CC Issuers Q2 30+ Day DEL Edges Down 4 bps YOY

Average early stage delinquency (30+ days) for the second quarter (2Q/18), among the nation’s Top 4 issuers, decreased 17 basis points (bps) sequentially, and declined year-on-year (YOY) by 4 bps. The nation’s largest issuer, Chase, reported delinquency increased to 1.65% in 2Q/18, compared to 1.82% for 1Q/18 and 1.59% for 2Q/17, a 6 bps gain…

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V+M Q2 U.S. Credit + Debit Cards GTX Up 7.9% YOY – Up 180 bps Over 2017

U.S. gross transactions (GTX) for Visa and Mastercard credit and debit cards grew by 7.9% year-on-year (YOY) in the second quarter (2Q/18), compared to 6.1% one-year ago.  U.S. GTX for credit cards jumped 8.1% YOY while U.S. GTX for debit cards increased 7.8% YOY in 2Q/18. Visa’s U.S. GTX for credit cards rose 8.5% YOY…

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V+M Canada Q2 PDV +10% YOY (FX) & CIF +9.5% YOY

Purchase dollar volume (PDV) in Canada for Visa and Mastercard posted strong performance in the second quarter (2Q/18) up 14.5% nominal or 10.0% currency adjusted (FX) year-on-year (YOY). Canadian cards-in-force (CIF) increased 9.5% YOY to 115 million. For 2Q/18, Visa posted a 240 basis points (bps) increase YOY in PDV, while Mastercard reported a 200…

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Big 6 Issuers Q2 U.S. Charge-Offs +18 bps YOY – Trending Upward Since Q1/17

Charge-offs among the nation’s top 6 issuers rose 18 basis points (bps) year-on-year (YOY) to 3.47% for the second quarter (2Q/18), but down 4 bps sequentially.  The Big 6 (Chase, Bank of America, Capital One, Citibank, American, Express, Discover) reported an aggregate charge-off ratio of 3.47% for 2Q/18, compared to 3.51% for 1Q/18 and 3.29%…

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Credit Card Marketshare U.S. 2Q/18

Visa Set to Grab More Marketshare in Q2 Approaching 60% GDV

The nation’s four major payment card networks produced $1485 billion in U.S. gross dollar volume (GDV) in the first quarter (1Q/17) for a 6.0% year-on-year (YOY) gain. Visa continues to rule the market, growing its U.S. GDV marketshare from 58.7% in 1Q/16 to 61.1% in 1Q/17, largely at the expense of American Express, according to…

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UK Lands First Contactless Loyalty Card Program

Thames Card Technology and Tesco have launched the UK’s first contactless loyalty card program. With 66% of global shoppers enrolled in loyalty programs and cardholders spending between 12-18% more than other customers, loyalty schemes are a key differentiator for UK retailers. The completely redesigned card increases security and value for customers, and gives Tesco greater…

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