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Coming Covid-19 Impacts to Card Portfolios

Posted by Myron Schwarcz and Larry Pruss on Jul 7, 2020 10:00:00 AM

Coming Covid-19 Impacts to Card Portfolios

Delinquencies & Defaults Brewing on the Horizon 

Despite the many uncertainties in our “now” normal, Covid-19 is undeniably changing consumer spending patterns – and it shows. According to its 8-K filing from June 1, which compares May 2019 to May 2020 payment volumes, Visa’s cardholder spend in categories like travel, entertainment, fuel and restaurants had 20-40%+ declines year-over-year, while spend in categories such as groceries, home improvement, retail sales and telecom/utilities grew 20-40% for the same period.      

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Topics: COVID-19, Card Portfolio

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