Nilson Report

Issue 1180 | Jul 2020

FEATURED COMPANIES

Companies featured in this issue include:

Credit Card Debt and Consumer Credit in the U.S.

Credit Card Debt as a Percent of Consumer Credit in the U.S.

Middle East and Africa Spending, Transactions, and Cards by Global Brand 

Middle East and Africa Market Shares of Purchase Transactions

Top 10 Mastercard and Visa Issuers in Middle East and Africa 2009 vs. 2019

Top 50 Card Issuers in the Middle East and Africa

Top 50 Credit Card Issuers in the Middle East and Africa

Top 50 Debit Card Issuers in the Middle East and Africa

Purchase Volume for the 20 Largest Visa and Mastercard Consumer Card Port-folios

Top 50 Card Issuers in the Middle East and Africa

The 50 largest issuers of general purpose credit and debit cards in the Middle East and Africa are ranked by purchase volume in 2019. Purchase volume includes Visa, Mastercard, Amex, Diners, Maestro, UnionPay, and Domestic-Only debit cards.

1. IsraCard, Israel
$45.99 billion purchase volume
2. Israel Credit Cards, Israel
$30.08 billion purchase volume
3. Max IT Finance (Leumi Card), Israel
$24.09 billion purchase volume
4. Al Rajhi Bank, Saudi Arabia
$22.93 billion purchase volume
5. Standard Bank, South Africa
$16.48 billion purchase volume

Full access to the Top 50 Card Issuers results in the Middle East and Africa region is available to you when you subscribe to the Nilson Report.

< BACK TO NEWSLETTER ARCHIVE

POSTED JUL 31, 2020 | PRINT

Household Debt and Credit Cards in the U.S.

Please note: Only subscribers can access the charts included with this article.

Credit card debt of $1.169 trillion at year-end 2019 was the total of outstanding receivables tied to Visa, Mastercard, American Express, and Discover commercial and consumer card products combined with all private label (store, gasoline, medical, etc.) card products. Credit card debt shown in this article was compiled by the Nilson Report from its surveys of financial institutions and private label lenders.

The number of U.S. households, a statistic provided by the U.S. Census Bureau, was 128.6 million for 2019. Credit card debt per U.S. household was $9,095 at the end of 2019, an increase of 3.3% from $8,807 in 2018. 

Ten years earlier, at the end of 2009, when there were 117.2 million U.S. households, credit card debt per household was $7,560.

Total U.S. household debt was $16.122 trillion at year-end 2019, an increase of 3.3% over 2018. Credit card debt accounted for 7.25% of household debt, up from 7.20% in 2018. The ratio of credit card debt to household debt was highest in 1996 at 9.87%. 

Credit card debt is a subset of total consumer credit, which was $4.181 trillion at year-end 2019, an increase of 4.3% from 2018. Total consumer credit is a combination of closed and open-ended installment and noninstallment unsecured personal loans. 

Consumer credit equaled 25.93% of household debt at year-end 2019, up from 25.68% in 2018. 

Credit card debt accounted for 27.97% of total consumer credit at year-end 2019, down from 28.02% the prior year. The ratio of credit card debt to consumer credit was highest in 1997 at 40.95%. 

Debt per U.S. household at year-end 2019 averaged $125,386, an increase of 2.5% from $122,370 in 2018. Consumer credit per household was $32,516 in 2019, an increase of 3.5% from $31,427 in 2018. Debt per U.S. household does not include government debt at the state, local, or federal level. 

Total household debt, total consumer credit, and home mortgage debt are reported in the Federal Reserve Statistical Release, Z.1, Financial Accounts of the United States, Flow of Funds, Balance Sheets, and Integrated Macroeconomic Accounts, Table D.3, Debt Outstanding by Sector. The release date was June 11, 2020. 

The Federal Reserve Statistical Release does not count mortgage debt and low-value bank loans as consumer credit. However, total household debt does include consumer credit added to one- to four-family residential mortgage debt and low-value bank loans. Automobile leases and rent payments are not counted by the Federal Reserve as consumer credit. Mortgage debt and select other loans of $11.941 trillion at year-end 2019 increased 2.9% over 2018.

Credit card debt in the U.S. drops in the first half of every year as consumers repay spending generated in the fourth quarter of the preceding year. Covid-19 has had a significant impact on that decline in the first six months of 2020. 

At June 30, 2019, credit card outstandings at the eight largest U.S. issuers was down 2.6% versus the prior year-end. This year, those same issuers reported credit card outstandings at June 30, 2020, have fallen 15.1% from year-end 2019. Credit card outstandings for the 100 largest U.S. issuers at midyear 2020 will be published in September. 

Prior issues: 1153, 1132, 1112, 1088, 1065, 1043, 1020, 997, 974



© Copyright 2020 Nilson Report

You have 2 free articles remaining. Subscribe today. View Subscription Offer
New subscribers receive over 130 articles in the 22 issues published each year,
plus the last five years of issues (that's over 1,200 articles) on a searchable flash drive.