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 Visa Card U.S.

First-Quarter Visa Card U.S. PDV Plunges 300 bps YOY

First-quarter Visa card performance for the U.S. market reveals the impact of spending roadblocks including the widespread inclement weather, domestic & global economic uncertainty on both “Main Street” and “Wall Street,” not to mention the widespread damage inflicted by the “Trump Shutdown.” Visa’s U.S. payment card (credit+debit) purchase dollar volume (PDV), for the first-quarter (1Q/19),…

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…

First Quarter Credit Card Profits

First Quarter Profits Top 4 Credit Card Networks & Issuers

First quarter profits for the first quarter (1Q/19) for the four largest networks and the credit card businesses of four largest issuers will likely be all over the map starting tomorrow as Chase releases its first quarter numbers before the opening bell. The first quarter is historically a slow consumer spending period and a time…

Visa Mastercard International Transactions

Visa Mastercard International Gross Transactions up 19% YOY

International gross transactions (GTX) for Visa and MasterCard credit and debit cards grew by 18.6% year-on-year (YOY) in the fourth quarter (4Q/18), compared to 11.8% YOY in 2017. International GTX for credit cards increased 18.1% YOY, compared to 4.1% YOY in 2017. International CTX for debit cards soared 18.9% YOY in 4Q/18, compared to 17.1%…

Active Credit Card Accounts

Big 6 U.S. Credit Card Sales Accounts Slow Nearly 50% in Q4

U.S. issuer credit card active accounts (AAC) (accounts with sales activity), among the top six U.S. issuers, increased 3.1%% year-on-year (YOY) in the fourth quarter (4Q/18), compared to 5.6% YOY in 2017. There were 161.4 million active bank credit card accounts for 4Q/18 in the U.S. among the top six issuers: Citibank [C]; Capital One…