US Private Label Credit Card Trends, 15th Edition Report

Report Overview

Retail Categories Remain Key for Private Label Credit Cards

Private label credit cards have maintained their role in financing infrequent larger-ticket purchases. In retail categories such as home, jewelry, and auto, private label-only programs remain the rule and co-branded offerings are the exception.

Key Themes Covered in this Report:

• Increasing co-branded offerings and rising use of fintech financial services like Buy Now, Pay Later are impacting private label credit cards.
• Consumers aged 45 and older remain key users of private label credit cards.
• Using a private label credit card strongly correlates to shopping more frequently at the retailer brand on the card.

This report provides a wealth of insight on the US private label credit cards (PLCC) market. Analysis in this report includes:

• Payment value and loan receivables estimates for the PLCC market for 2019-2025
• PLCC payment value and loan receivables forecasting for 2025-2027, with forecast factors
• Trended PLCC payment value and loan receivables estimates for key issuers, including Bread Financial, Capital One, Citibank, Synchrony Financial, TD Bank, and Wells Fargo
• Consumer engagement with major PLCC program and retail segments from 2019 through 2025
• PLCC loyalty analysis by demographic from 2019 through 2025
• Detail on more than 20 individual PLCC programs, inclusive of payment value and loan estimates
• Consumer ownership, use, and usage frequency of PLCCs segmented by retailer type
• Which PLCC features and benefits cardholders view as most important
• Detailed breakdowns of private label card programs operated by the industry’s leading financial institutions, including Bread Financial, Capital One, Citibank, Synchrony Financial, TD Bank, and Wells Fargo

US Private Label Credit Card Trends Report Details

Leading Companies Driving Trends in the Private Label Credit Card Industry

Large-Ticket Purchases Remain a Private Label Card Stronghold

A look at issuer card programs reveals that PLCCs have maintained their role in financing infrequent larger-ticket purchases. In retail categories such as home, jewelry, and auto, private label-only programs remain the rule and co-branded offerings the exception.

The same is true for smaller, niche specialty retail programs. For example, by our count, Bread has eight private label/co-branded programs, almost all of which serve large, national retailer brands such as Saks Fifth Avenue, Ann Taylor, and Victoria’s Secret. But it also has 24 private label-only programs, ranging from Boot Barn to The Children’s Place to Burlington. 

We do, however, view BNPL as a significant threat to these private label stalwarts. Affirm, for example, can be used to finance larger consumer purchases. And at jeweler Tourneau, once a Bread PLCC partner, Affirm is now the lone financing option.

US Private Label Credit Cards Report Scope

Analysis in the Private Label Credit Cards in the US, 15th Edition includes:

• Payment value and loan receivables estimates for the US private label credit card (PLCC) market for 2019-2025
• PLCC payment value and loan receivables forecasting for 2025-2027, with forecast factors
• Trended PLCC payment value and loan receivables estimates for key issuers, including Bread Financial, Capital One, Citibank, Synchrony Financial, TD Bank, and Wells Fargo
• Consumer engagement with major PLCC program and retail segments from 2019 through 2025
• PLCC loyalty analysis by demographic from 2019 through 2025
• Detail on more than 20 individual PLCC programs, inclusive of payment value and loan estimates
• Consumer ownership, use, and usage frequency of PLCCs segmented by retailer type
• Which PLCC features and benefits cardholders view as most important
• Detailed breakdowns of private label card programs operated by the industry’s leading financial institutions, including Bread Financial, Capital One, Citibank, Synchrony Financial, TD Bank, and Wells Fargo