Report
Colin Plunkett

Credit Card Roundup: Issuers Are Starting to See Divergent Credit Quality

First-quarter results represent a divergence among credit card issuers. All credit card issuers are at different stages of growth in this credit cycle and displaying mixed performance. On the basis of card issuer performance this quarter, Capital One appears to be one step ahead of peers, while Synchrony Financial and Alliance Data Systems are still digesting recent elevated growth and American Express is trying to catch up. We think Capital One is really realizing and expanding on the benefits ...
Underlying
Alliance Data Systems Corporation

Alliance Data Systems is a provider of data-driven marketing and loyalty solutions. The company operates in two segments: LoyaltyOne? and Card Services. LoyaltyOne provides coalition and short-term loyalty programs through the Canadian AIR MILES? Reward Program and BrandLoyalty Group B.V. Card Services encompasses credit card processing, billing and payment processing, customer care and collections services for private label retailers as well as private label and co-brand retail credit card and loan receivables financing, including securitization and other funding of certain credit card and loan receivables that it underwrites from its private label and co-brand retail credit card programs.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Colin Plunkett

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