Seeking Alpha

Christopher Menkin's  Instablog

Christopher Menkin
Send Message
Christopher "Kit" Menkin is of editor LeasingNews.org (http://www.leasingnews.org/), an internet trade publication for the finance/leasing industry. He has 41 years experience in the finance/leasing industry as well as being a founder of a commercial regional bank and serving on... More
My company:
Leasing News
  • Credit Card Loans At US Commercial Banks Down 0 comments
    Jan 5, 2013 1:45 PM

    Credit card and other revolving loans by U.S. Commercial Banks stood at 10.78% by year-end 2010, according to SNL Financial. By the end of the third quarter of 2012, total credit card and other revolving loans had fallen to $668.97 billion, or 9.70% of the industry's total loan portfolio.

    (click to enlarge)

    Across the country, the average rate for a "platinum" credit card was 9.90% at the end of 2012, but numerous institutions offered rates well below that level. Memphis, Tenn.-based First Tennessee Bank NA topped the charts for commercial banks with its 5.15% average rate. Hills, Iowa-based Hills Bank & Trust Co. tied with Denver-based Vectra Bank Colorado NA for second place with a 5.25% average platinum card rate.

    According to SNL Financial, at the end of 2010, aggregate credit card loans and other revolving credit plans stood at $36.37 billion at U.S. credit unions, accounting for 6.35% of their total loans. By Sept. 30, 2012, that number had grown to $38.25 billion, or 6.39% of the total loan portfolio.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Back To Christopher Menkin's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.