Credit Card Spending Accelerates Q1, Banks Report

TD Cowen reports credit card spending accelerated in Q1, with sequential growth slightly above expectations, helped by early Easter timing.
JPMorgan Chase kept its 2026 loss guidance, noting a flat loss rate and a quarter‑over‑quarter rise in reserve rates.
Wells Fargo’s auto loan originations jumped sharply YoY, while Chase’s fell modestly; both banks saw improved auto delinquency metrics.
Used car values rose 4.7% QoQ and JPMorgan’s operating lease income increased to $1.2 bn from $1.1 bn in Q4 2025.