The Illusion of Premium Card Profitability
High-end cardholders (roughly equivalent to superprime and prime plus1) now account for 85% of U.S. credit card spending, up from 81% in 2019. This group has driven all of the growth in purchase volume since the pandemic; prime-and-below borrowers have been at or below zero growth since late 2023. Every major issuer wants these customers: […]
Credit Card Issuing Industry KPIs Q4’25
Underwriting Discipline Continues to Hold Credit Losses at Bay The fourth quarter of 2025 showed stabilization in the recent upward credit loss trend in bank credit performance, while portfolio growth remained intact despite mounting signs of consumer fragility. As non-credit card-focused banks demonstrated improving chargeoff stability and sustained risk appetite, credit card-focused banks continued to […]
BNPL Landscape & Credit Dynamics
Buy Now Pay Later has moved from being a checkout novelty to becoming one of the fastest-growing forms of consumer credit. In 2025, BNPL originations passed $60 billion in the U.S. and $500 billion globally – with sustained volume growth more than double the rate of credit cards. Retailers love the incremental sales, consumers love […]
Credit Card Issuing Industry KPIs Q2’25
Bank Card Programs Defy Expectations and Drive Stronger Profitability The second quarter of 2025 marked a significant rebound in bank credit card program NCL rates, reversing from what had been their highest levels in more than a decade. Coupled with near record-high loan balances and widening credit spreads, bank-managed credit card programs are outperforming expectations […]
In-House vs. Outsourced Program Management: Time to Rethink the Lines in the Sand
Credit Card Landscape Credit card issuing programs have long followed two primary operating models: managing everything in-house or outsourced arrangements through agent banks or program managers. These models evolved as natural responses to the complexity of credit card issuing and the very different levels of scale, capital availability, risk tolerance, and operational capabilities that financial […]