Visa Mastercard CIF for U.S.

Visa Mastercard CIF for the U.S. Market Loses Momentum in the Second Half

U.S. Visa Mastercard CIF (cards-in-force) for payment cards (credit & debit) increased 2.1% year-on-year (YOY) in the third quarter (3Q/18), compared to a 6.6% YOY gain in the prior quarter. U.S. credit cards increased 2.9% YOY while CIF for debit cards rose 1.5% YOY, in 3Q/18. There are were 1289 million Visa and Mastercard payment…

Credit Cards-in-Force

Credit Cards-in-Force Growth Signals U.S. Market Saturation

Credit Cards-In-Force (CIF) in the third quarter (3Q/18) for Visa, MasterCard, American Express and Discover in the U.S. was up 3.8% year-on-year (YOY). At the end of 3Q/18, there were 676 million U.S. credit/charge CIF compared to 651 million for 3Q/17, according to RAM Research. Total U.S. credit cards for 3Q/18 stands at an estimated…

Credit Card Rates Rise Nationally

Credit Card Rates Rise Nearly 150 bps YOY or 2X Prime Rate Increase

Nominal credit card rates among banks and credit unions nationally increased 137 basis points (bps) in the second quarter (2Q/18) year-on-year (YOY) while rates assessed on accounts with balances rose 154 bps over the same period. Sequentially, nominal interest rates rose 51 bps as accessed credit card rates increased 22 bps. Nominal credit card interest…

Payment Card Transactions for V+M U.S. Rises 9.5% YOY in Q2

Payment card transactions (PTX) for Visa and Mastercard credit and debit cards in the U.S. grew by 9.5% year-on-year (YOY) in the second quarter (2Q/18) to 24.1 billion. The growth was driven by Mastercard credit and debit cards. U.S. payment card purchase transactions for Visa and Mastercard (debit+credit) hit 24,067 in 2Q/18, compared to 22,221…

U.K. Credit Card Lending

British Brexit Economy Sputters as Credit Card Lending Slows in July Amidst Stagnate Workers’ Pay

U.K. consumer credit growth continued its downward spiral in July, dropping to 8.5% year-on-year (YOY), its lowest level this year and well below the peak of 10.8% YOY set in November 2016. For July, driven by the Brexit fallout, the decline was 50 basis points (bps) sequentially, and flat YOY. However, according to the July…

U.S. Credit Card Issuer Outstandings

Big 6 U.S. Card Issuer Q2 Outstandings +6% YOY +13.5% Since Q2/16 – Driven by AXP & DFS

U.S. credit card outstandings end-of-period (EOP) among the Big 6 issuers increased 6.3% in the second quarter (2Q/18) year-on-year (YOY) to $563.0 billion. Over the past two years, Top 6 outstandings have jumped 13.5%. The robust aggregate gain resulted from strong YOY growth from Capital One, American Express and Discover. The Big 6: American Express,…

Global Payment Card GDV

Major U.S-Based Card Network Global Q2 GDV Rises 10% YOY – Propelled by MasterCard

Gross dollar volume (GDV) for Visa, Mastercard, American Express and Discover cards (credit + debit) globally increased 10.9% year-on-year (YOY) on a nominal dollars basis, for the second quarter (2Q/18). However, on a currency adjusted basis (FX) global GDV for 2Q/18 increased an estimated 10.3% YOY.  The major four networks posted $4648 billion in global…

Credit Card Loan Growth

COF Continues to Drive Growth in Q2 – Top 4 EOP Outstandings +4% YOY

U.S. credit card outstandings end-of-period (EOP) among the Top 4 U.S. issuers gained 4.3% in the second quarter (2Q/18) year-on-year (YOY) to $427.1 billion. The YOY growth rate is down 150 basis points (bps), compared to the prior quarter. The gain was largely driven by Capital One, the nation’s second largest U.S. issuer. Bank of America…

V + M Q2 U.S. Credit CIF +6% — Debit CIF +7% YOY — Led by Mastercard

U.S. cards-in-force (CIF) for Visa and Mastercard payment cards (credit & debit) increased 6.6% year-on-year (YOY) in the second quarter (2Q/18). U.S. credit cards increased 5.9% YOY while CIF for debit cards rose 7.1% YOY, in 2Q/18. There are were 1334 million Visa and Mastercard payment cards in circulation in the U.S. at the end…