At the mid-year point of 2021, credit card profits are steady, despite decreases in revolving debt, thanks to recovered loan loss reserves held back from the risk associated with COVID-19. With record-low delinquency rates, and spending on the rebound, many card issuers steadied their business. Downfield risks face the industry as we look further into the decade, with new competitors, revitalized regulatory interests, and diminished loan loss reserves.