Market Share by Credit Card Issuer

CH-Statistic-Market-Share-by-Credit-Card-IssuerThe credit card market is highly competitive, ever-evolving, and top-heavy.  As such, the hierarchy of companies in this space is very revealing.  Issuer market share, and changes therein, indicate trends in financial brand recognition, consumer preference, and competitive dynamics.  Such statistics also provide useful context to investors as they approach the banking sector.

Below you will find historical market share information for general-consumer credit cards, store credit cards, and business credit, expressed in terms of both purchase volume and outstanding balances.

Total Credit Card Market

Top 15 U.S. Credit Card Issuers Based on Purchase Volume (In Billions)

Rank Issuer Purchase Volume
1 American Express $519.47
2 Chase $370.83
3 Bank of America $248.59
4 Citibank $194.66
5 Capital One $115.63
6 Discover $100.14
7 U.S. Bancorp $82.47
8 Wells Fargo $56.22
9 HSBC
(acquired by Capital One 05/12)
$32.03
10 USAA $30.79
11 Barclays $30.45
12 GE Capital $23.69
13 PNC $16.46
14 Cabela’s WFB $13.87
15 First National $9.05
(Source: Nilson Report, February 2011)

Top 15 issuers of general purpose credit cards for first 6 months of 2009 based on outstanding balances

Rank Issuer Outstanding Balances (in Billions) Market Share Cumulative
Market Share
1 Chase $165.87 19.00% 19.00%
2 Bank of America $145.10 16.00% 35.00%
3 Citi $102.54 12.00% 47.00%
4 American Express $78.16 9.00% 55.00%
5 Capital One $55.46 6.00% 62.00%
6 Discover $48.90 6.00% 68.00%
7 Wells Fargo $30.89 3.00% 71.00%
8 HSBC
(acquired by Capital One 05/12)
$24.80 3.00% 73.00%
9 US Bank $20.17 2.00% 76.00%
10 USAA $12.96 1.00% 77.00%
11 Barclays $10.67 1.00% 78.00%
12 Target $7.78 1.00% 79.00%
13 GE Money $7.17 1.00% 80.00%
14 PNC Bank $5.08 1.00% 81.00%
15 First National $4.32 0.50% 81.50%
TOTAL CREDIT
CARD DEBT:
$887.10
(Source: Nilson Report, August 2009, Federal Reserve)
Market Share by Issuer

Top 15 issuers of general purchase credit cards in the U.S. based on purchase volume2004 vs. 2013

Rank 2004 2009 2011 2012 2013
1 American Express American Express American Express American Express American Express
2 Chase Chase Chase Chase Chase
3 Citi Bank of America Bank of America Bank of America Bank of America
4 MBNA Citibank Citibank Citibank Citibank
5 Bank of America Capital One Capital One Capital One Capital One
6 Capital One Discover Discover Discover Discover
7 Discover U.S. Bancorp U.S. Bancorp U.S. Bancorp U.S. Bank
8 US Bank Wells Fargo Wells Fargo Wells Fargo Wells Fargo
9 HSBC HSBC HSBC HSBC
(acquired by Capital One 05/12)
Barclaycard
10 Wells Fargo Barclays Barclays USAA USAA
11 USAA USAA USAA Barclays N/A
12 WaMu GE Money GE Money GE Capital N/A
13 GE Money PNC Bank PNC Bank PNC Bank N/A
14 Target Cabela’s WFB Cabela’s WFB Cabela’s WFB N/A
15 Advanta Target Target First National N/A
(Source: Nilson Report, February 2013)

Capital One was the most profitable U.S. credit card issuer in 2009 with a net income of $918.4 million, even though this was down 8.3% versus the previous year.

The three largest general purpose credit card issuers, JPMorgan Chase, Bank of America, and Citi, were the only issuers in the top 11 who were not profitable — Bank of America’s $5.56 billion loss exceeded the combined net income its U.S. card business had generated the previous two years.

As a group, the top 11 U.S. credit card issuers had a net loss of $5.40 billion in 2009 compared to a net income of $7.70 billion in 2008.
(Source: Nilson Report, March 2010)

Store Credit Card Market

2012 vs. 2002 Store Credit Card Purchase Volume (in Billions)

(Source: The Nilson Report, 2013)

2012's Largest Store Card Issuers by Purchase Volume (in Billions)

(Source: The Nilson Report, 2013)

2013's Largest Store Card Issuers by Number of Stores

(Source: The Nilson Report, 2013 & CardHub data)

Commercial Credit Card Market

Top 6 U.S. Issuers of Commercial Credit Cards
(Source: The Nilson Report, 2013)

Top 6 U.S. Issuers of Commercial Credit Cards 2012 and 2013

2012 2013
Rank Issuer Market Share Issuer Market Share
1 Chase 26.50% Chase 19.00%
2 Bank of America 18.30% Bank of America 16.00%
3 U.S. Bank 15.10% Wells Fargo 11.00%
4 Citigroup 12.90% U.S. Bank 10.00%
5 Wells Fargo 9.30% Citibank 8.00%
6 Capital One 7.90% Capital One 5.00%
7 PNC 3.20% N/A N/A
8 BMO Harris 3.20% N/A N/A
9 Comdata 3.20% N/A N/A
10 Comerica 3.00% Rest 32.00%

(Source: The Nilson Report, 2013)

Top 10 U.S. Issuers of Commercial Debit Cards

(Source: The Nilson Report, April 2013)

Top 10 U.S. Issuers of Commercial Debit Cards 2012 and 2013

2012 2013
Rank Issuer Market Share Issuer Market Share
1 Bank of America 23.80% Bank of America 20.60%
2 Wells Fargo 22.50% Wells Fargo 18.20%
3 Chase 21.30% Chase 13.80%
4 Comerica 10.00% U.S. Bank 4.00%
5 U.S. Bank 7.50% PNC 3.90%
6 Citigroup 7.50% USAA 2.80%
7 PNC 5.00% SunTrust 2.40%
8 N/A N/A Regions 2.30%
9 N/A N/A TD 2.20%
10 N/A N/A Bancorp 2.20%
11 Other 2.30% Other 28.00%
(Source: The Nilson Report, April 2013)
Previous Will Not Using a Credit Card Affect My Credit Score?   Will a Denied Credit Card Application Affect My Credit Score? Next
POST YOUR COMMENT

Our content is intended for general educational purposes and should not be relied upon as the sole basis for managing your finances. Furthermore, the materials on this website do not constitute legal advice and should not be relied upon as such. If you have any legal questions, please consult an attorney. Please let us know if you have any questions or suggestions.