Thursday, May 21, 2009

Who are the largest credit card issuers

Would you believe that the top 10 credit card issuers control over 80% of the credit card market in the United States? In fact the top 5 control almost 70% of the market in the USA. According to creditcards.com which got its information from Nilsons (an industry rag)the breakout is like this:

JPM 21.22%
BOFA 19.25%
CITI 12.35%
AMEX 10.19%
CAP1 6.95%
DISC 5.75%
WELLS 4.21%
HSBC 3.47%
USBANK 2.14%
USAA 2.02%

You would think this would be a perfect time for another bank to step up and start to squeeze market share, especially the financially strong ones that didn't accept TARP money.

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