Consumer Payment Card News

Mid-Year Card Activity

Credit card volume in the USA is currently growing by 4.8%, with American Express leading the charge with a 10.1% annual growth rate. The level of activity on credit cards matches the increase in overall U.S. consumer spending. However, discounting AmEx would lower the current growth rate to a paltry 3.8%. VISA’s second quarter credit card volume was up 4.6%, compared to MasterCard’s 3.1%, and Discover’s 2.1%. Based on data compiled by CardData (www.carddata.com), total credit card dollar volume in the second quarter was $373.2 billion compared to $356.0 billion for 2Q/02.

Quarterly Credit Card Gross Dollar Volume (all figures $ billions)
                       2Q/03   1Q/03   2Q/02    CHNG
              VISA:   158.8   145.2   151.8    +4.6%
        MasterCard:   125.8   117.2   122.0    +3.1%
          Amer Exp:    64.6    58.9    58.7    +10.1%
          Discover:    24.0    26.1    23.5    +2.1%
             TOTAL:   373.2   347.4   356.0    +4.8%
        Source: CardData (www.carddata.com)

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