Banking experts see good growth in credit card loans in 2026, with at least two of the big banks expecting this year to be a great year on the consumer side.
“Spend on the consumer side is up year-on-year every week, consistent in terms of the percentage increase that we’re seeing,” said Wells Fargo (WFC) CFO Michael Santomassimo at the UBS Financial Services Conference.
“Credit performance is still very good. We’re not seeing signs of any systemic deterioration at all, across the consumer or the commercial portfolios. And so overall, delinquencies are great,” said Santomassimo.
“We saw a good uptick in new account origination in the credit card business in the second half of last year. And so hopefully, that will continue into this year,” said the Wells Fargo CFO.
Meanwhile, Bank of America (BAC) CEO Brian Moynihan said at the Bank of America Financial Services Conference that consumers spent 5% more money in January, compared to the same period last year.
“The credit quality is strong. The usage is strong, the pre—getting people to take the card out of the wallet is high,” said Moynihan.
“With our credit focus, we’re trying to keep the charge-offs from having a volatility. We have not had a consumer issue in the United States since the financial crisis,” said the BofA CEO.