“The legacy Discover card loans continued to contract slightly and will likely continue to face a growth headwind due to Discover's prior credit policy cutbacks and some trimming around the edges that we will implement going forward.”

In context

“ions, a combined quarter end balance sheet and purchase accounting effects. Looking through the Discover impacts, the combined Domestic Card business delivered another quarter of top line growth, strong margins and improving credit. Year-over-year purchase volume growth for the quarter was 39%, driven primarily by the addition of a full quarter of Discover purchase volume. Excluding Discover, year-over-year purchase volume growth was about 6.5%. Ending loan balances increased 70% year-over-year, also largely as a result of adding Discover Card loans. Excluding Discover, ending loans grew about 3.5% year-over-year. While competitive intensity remains high, we continue to see good traction across our legacy card business, including strong growth with heavy spenders at the top of the market. The legacy Discover card loans continued to contract slightly and will likely continue to face a growth headwind due to Discover's prior credit policy cutbacks and some trimming around the edges that we will implement going forward. While that will create a short-term loan growth brownout, we continue to see good opportunities to grow the Discover Card business on the other side of our tech integration, where we can implement growth expansions powered by our unique technology and underwriting. Revenue was up 59% from the third quarter of 2024 with a full quarter of Discover revenue. Excluding Discover, year-over-year revenue growth was about 6.5%, driven by underlying growth in purchase volume and loans. Revenue margin for the quarter was 17.3%, including the impact from a full quarter of combined operations and amortization of the purchase accounting fair value mark. The third quarter Domestic Card charge-off rate was 4.63%, down 62 basis points from the prior quarter and 98 basis points from a year ago. The third q”