Nilson Report

Issue 1170 | Feb 2020

FEATURED COMPANIES

Companies featured in this issue include:

Market Shares (%) of Purchase Volume for Top U.S. Credit Cards

Market Shares of Outstandings for Top U.S. Credit Card Issuers 2019

Top U.S. Credit Card Issuers: Outstandings, Volume, Transactions, Cards

50 Largest Mastercard & Visa Credit Card Issuers in the U.S.—Ranked by Outstandings 2019

50 Largest Mastercard & Visa Credit Card Issuers in the U.S.—Ranked by Outstandings 2019

Visa and Mastercard credit card outstandings tied to cards issued in the U.S. reached $817.23 billion at year-end 2019, up 4.7% from the prior year. The top 5 issuers are listed below.

1. Chase, Delaware
$168.92 billion, +7.8%
2. Citi, South Dakota
$115.84 billion, +5.3%
3. Bank of America, Delaware
$107.52 billion, +0.1%
4. Capital One, Virginia
$107.16 billion, +6.9%
5. Wells Fargo, South Dakota
$42.96 billion, +4.2%

Full access to the 50 Largest Mastercard & Visa Credit Card Issuers in the U.S.—Ranked by Outstandings 2019 results is available when you subscribe to The Nilson Report.

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POSTED FEB 28, 2020 | PRINT

Top U.S. Credit Card Issuers

Please note: Only subscribers can access the charts included with this article.

The largest issuers of Visa, Mastercard, American Express, and Discover general purpose credit card products in the U.S. for 2019 are shown in the chart above as well as charts on pages 8 and 9. Commercial (small business, corporate, purchasing, and fleet) and consumer credit card products are included.

U.S. general purpose card brand outstanding receivables (including securitizations) grew to $1.018 trillion at December 31, 2019, an increase of 4.6% from $973.32 billion at December 31, 2018. 

Among the 10 largest issuers ranked by outstandings, Citi moved to 2nd largest ahead of American Express. The market share for JPMorgan Chase (Chase) increased 49 basis points (bps) to 16.59%, Capital One increased 23 basis points to 10.52%, Discover increased 9 basis points to 7.58%, and Citi increased 6 basis points to 11.58%. 

Market share declines occurred at Bank of America, which was down 51 basis points to 10.73%, Synchrony down 34 bps to 2.04%, American Express down 11 bps to 11.34%, Barclays down 9 bps to 2.62%, Wells Fargo down 2 bps to 4.32%, and U.S. Bank down less than 1 bps to 4.10%.

The 10 largest general purpose credit card issuers in the U.S. at the end of 2019 collectively held an 81.41% market share of outstanding credit card receivables, a decline from 81.61% in 2018. Five years ago, the top 10 market share was 83.55% when outstandings were $765.20 billion. Ten years ago, the top 10 market share was 87.04% when outstandings were $772.79 billion. 

PNC Bank, Navy Federal Credit Union (Navy FCU), Alliance Data, and Credit One Bank were issuers among the 20 largest with double-digit percentage increases in outstandings when comparing 2019 to 2018.

When comparing 2019 to 2018, the largest increases in the dollar amount of outstandings occurred at Chase (up $12.29 billion), Capital One (up $6.95 billion), Citi (up $5.81 billion), Discover (up $4.31 billion), American Express (up $4.09 billion), Navy FCU (up $2.64 billion), Goldman Sachs (up $1.86 billion from its August 2019 launch of the Apple Card), U.S. Bank (up $1.84 billion), Wells Fargo (up $1.75 billion), and PNC Bank (up $1.23 billion).

Purchase volume, which is spending for goods and services, tied to all general purpose credit cards issued in the U.S. reached $3.966 trillion in 2019, an increase of 7.8% over 2018. Purchase volume market share gains among the top 10 issuers occurred at only 3 issuers: Chase grew 33 bps in 2019 to 20.43%, Capital One grew 18 bps to 9.34%, and Citi grew 5 bps to 11.19%. Declines in market share occurred at American Express down 31 bps to 20.22%, Bank of America down 22 bps to 9.58%, Wells Fargo down 12 bps to 3.54%, Discover down 9 bps to 3.69%, Barclays down 8 bps to 2.07%, U.S. Bank down 7 bps to 3.89%, and Synchrony down 3 bps to 1.44%, 

The 10 largest general purpose card issuers in the U.S. for 2019 collectively held a 85.41% share of purchase volume, a decline from 85.78% in 2018. Five years before, the top 10 market share was 85.78% when purchase volume was $2.632 trillion. Ten years before, the top 10 market share was 85.73% when purchase volume was $1.762 trillion. Double-digit percentage increases in purchase volume among the 20 largest issuers were Alliance Data (up 15.2%), Navy FCU (up 13.2%), Comdata (up 12.1%), and Wex (up 10.6%). The largest dollar increases in purchase volume for 2019 over 2018 occurred at Chase (up $70.88 billion), American Express (up $46.95 billion), Citi (up $34.04 billion), Capital One (up $33.33 billion), Bank of America (up $19.32 billion), U.S. Bank (up $8.61 billion), Discover (up $7.15 billion), Wells Fargo (up $5.84 billion), and Comdata (up $4.32 billion).

Purchase transactions for goods and services initiated by all general purpose credit cards issued in the U.S. grew to 44.39 billion in 2019, an increase of 8.7%. Among the top 20, 9 issuers had double-digit increases in purchase transactions—Alliance Data, Navy FCU, PNC Bank, Comdata, Capital One, Credit One Bank, Chase, Wex, and Discover.

All figures on pages 10 and 11 are Visa and Mastercard only. Amex and Discover are not included. 

Ranked among the top 50 Visa and Mastercard issuers based on outstandings were 13 credit unions. Outstandings for those credit unions totaled $28.34 billion, an increase of 10.3% versus the industry increase of 4.6%. Purchase volume for the 5 credit union issuers ranked among the top 50 for that category was $34.18 billion, an increase of 10.5% versus the industry increase of 7.8%.



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