ABA Banking Journal
No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
SUBSCRIBE
ABA Banking Journal
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
No Result
View All Result
No Result
View All Result
ADVERTISEMENT
Home Economy

Credit Card Market Expansion Continues in Third Quarter

January 30, 2018
Reading Time: 1 min read

New credit card accounts totaled 91.6 million in the third quarter of 2017, according to the latest edition of the American Bankers Association’s Credit Card Market Monitor released today. Monthly purchase volumes edged up across risk tiers (subprime, prime and super-prime). Year-on-year, purchase volumes rose 3.3 percent for prime accounts and 4.3 percent for super-prime accounts, but fell 3.9 percent for subprime accounts — the third consecutive quarter of year-over-year decline.

Credit access continued to expand in the third quarter, with the total number of new accounts rising 4.9 percent year-on-year, the slowest growth rate recorded since the second quarter of 2011. New account openings for prime and subprime accounts slowed to their weakest annual rates in nearly four years.

“As the economy continues to grow, consumers are enjoying historically low debt-to-income ratios and near-record confidence,” said ABA SVP Jess Sharp. “Unemployment is down, wages are creeping up, and the passage of tax reform will put more money in people’s pockets. These trends are good for the economy, and will likely translate into increased consumer spending.”

Outstanding credit as a share of disposable income increased 14 basis points to 5.61 percent, remaining in line with post-recession lows. The share of account holders carrying a monthly balance ticked up 0.7 percentage points to 43.7 percent of all accounts, also remaining well below recession-era levels. The share of account holders paying off their balances each month fell 0.3 percentage points to 29.1 percent of all accounts, while 27.2 percent of accounts were dormant.

ADVERTISEMENT
Tags: Credit cards
ShareTweetPin

Author

Monica C. Meinert

Monica C. Meinert

Monica C. Meinert is a senior editor at the ABA Banking Journal and VP for executive communications at the American Bankers Association.

Related Posts

Consumer Sentiment declined in April

Consumer sentiment holds steady in May

Economy
May 30, 2025

The University of Michigan Consumer Sentiment Index neither rose nor fell in May compared to the month prior, holding at 52.2, according to final results for the month.

Personal income increased in February

Personal income increased 0.8% in April

Economy
May 30, 2025

Personal income increased 0.8%, or $210.1 billion, in April, the Commerce Department said. The personal savings rate was 4.9%.

CFPB study: BNPL loans grew tenfold since 2019

ABA DataBank: Increase in late payments by buy now, pay later users

Economy
May 30, 2025

Close to one-fourth of buy now, pay later users were late making a payment in 2024, a significant increase from the previous year.

ABA faults banking regulators for confusing CRA rule rollout

FDIC releases CRA exam schedules for Q3, Q4

Compliance and Risk
May 30, 2025

The FDIC has issued the lists of institutions scheduled for Community Reinvestment Act examinations during the third and fourth quarters of 2025.

HUD to reinstate 2013 disparate impact rule

ABA urges HUD to rescind disparate-impact rule

Compliance and Risk
May 30, 2025

ABA urged HUD to rescind its 2023 disparate-impact rule and replace it with one that more closely aligns with the findings of the U.S. Supreme Court.

Executive order phases out U.S. Treasury paper checks

Public comment sought on plan to phase out U.S. Treasury paper checks

Newsbytes
May 30, 2025

The Treasury Department is taking public comment on plans to implement President Trump’s executive order directing it to no longer issue paper checks for disbursements.

NEWSBYTES

Consumer sentiment holds steady in May

May 30, 2025

Personal income increased 0.8% in April

May 30, 2025

ABA DataBank: Increase in late payments by buy now, pay later users

May 30, 2025

SPONSORED CONTENT

Choosing the Right Account Opening Platform: 10 Key Considerations for Long-Term Success

Choosing the Right Account Opening Platform: 10 Key Considerations for Long-Term Success

April 25, 2025
Outsourcing: Getting to Go/No-Go

Outsourcing: Getting to Go/No-Go

April 5, 2025
Six Payments Trends Driving the Future of Transactions

Six Payments Trends Driving the Future of Transactions

March 15, 2025
AI for Banks: A Starter Guide for Community and Regional Institutions

AI for Banks: A Starter Guide for Community and Regional Institutions

March 1, 2025

PODCASTS

Podcast: Accelerating banking for quick-service restaurants

May 8, 2025

How a Georgia community bank supports government-guaranteed lending nationwide

May 1, 2025

Podcast: Quantum computing’s shakeup in payments, cybersecurity

April 24, 2025
ADVERTISEMENT

American Bankers Association
1333 New Hampshire Ave NW
Washington, DC 20036
1-800-BANKERS (800-226-5377)
www.aba.com
About ABA
Privacy Policy
Contact ABA

ABA Banking Journal
About ABA Banking Journal
Media Kit
Advertising
Subscribe

© 2025 American Bankers Association. All rights reserved.

No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive

© 2025 American Bankers Association. All rights reserved.