Proprietary Report with Analysis on Big 6 U.S. Credit Card Gross (Open) Accounts.
Gross or open accounts (GAC) for U.S. credit cards among the Big 6 U.S issuers rose 6.6% year-on-year (YOY) in the first quarter (1Q/17) to 291.4 million, compared to 286.1 million in the prior quarter, and 273.5 million one-year ago.
The growth is driven by Citibank and its acquisition of the American Express Costco card portfolio.
American Express estimated U.S. credit GAC for 1Q/17 decreased 16.8% YOY to 38.6 million, compared to 38.0 million in . . . .