PaymentsJournal
No Result
View All Result
SIGN UP
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
PaymentsJournal
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
No Result
View All Result
PaymentsJournal
No Result
View All Result

New Bank Credit Card Originations Rise More Than 28 Percent From 2010

By Mercator Advisory Group
May 20, 2011
in Analysts Coverage
0
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Equifax has announced the release of its National Credit Trends report for the February 2011 timeframe. Notable in particular was an uptick in subprime (credit score of under 660) bankcard originations.

Notable within the data is that lenders continue to expand the subprime category with Feb. 2011 subprime bankcard originations* up by more than 75 percent over Feb. 2010 numbers, and total new subprime bankcard credit up by more than 66 percent.
Total new bankcard credit limits are increased by more than 27 percent YOY, as a result of reflective of the increase in total new bankcard volume. Other key findings:
• Individual new bankcard average credit limit decreased slightly from the previous year (Feb. 2011 average of $4,008 vs. Feb. 2010 average of $4,086)
• Average subprime bankcard credit limit has decreased slightly as well, from $1,025 (Feb. 2010) to $977 (Feb. 2011)

The reduced new account credit limits are evidence of issuers’ caution in underwriting new accounts. Mercator notes that while originations may be rising, the number of bankcard accounts on file is only just stabilizing after a significant drop since 2008. This suggests that increased originations are about balancing the high levels of account attrition driven by account charge-offs, closing of inactive accounts, and voluntary account closures.

Click here to read more: http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNFxifrgaSUzqLqC3meaM4HcMphTpw&url=http://www.prnewswire.com/news-releases/new-bank-credit-card-originations-rise-more-than-28-percent-from-2010-122308028.html

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

    Get the Latest News and Insights Delivered Daily

    Subscribe to the PaymentsJournal Newsletter for exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    accounts payable

    A Fragmented Accounts Payable Process Is a Liability in More Ways Than One

    July 22, 2025
    PayDay Lending: Out on the Fringes and Still an Ugly Business, payday lenders, Payday lending rule, national debt, changing relationship with money

    Legislation Requiring Cash Acceptance Faces an Uphill Battle

    July 21, 2025
    supply chain payments

    The Payment Process: The Supply Chain’s Most Overlooked Cyber Risk

    July 17, 2025
    Navigating Global Fintech Regulations Through Strategic Regulatory Arbitrage

    Navigating Global Fintech Regulations Through Strategic Regulatory Arbitrage

    July 16, 2025
    AI Is Turning Accounts Receivable Into a Strategic Powerhouse

    AI Is Turning Accounts Receivable Into a Strategic Powerhouse

    July 15, 2025
    Embedded Finance

    Embedded Finance: Bringing Payments Under a Single Umbrella

    July 14, 2025
    Making Real-Time Payments a Reality

    Fulfilling the Promise: Making Real-Time Payments a Reality

    July 10, 2025
    mortgage

    The Rich Benefits of In-House Payment Systems

    July 9, 2025

    Linkedin-in X-twitter
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter

    ©2024 PaymentsJournal.com |  Terms of Use | Privacy Policy

    • Commercial Payments
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    No Result
    View All Result