The top 5 credit card issuers by market share are Chase, American Express, Citi, Capital One, and Bank of America, which collectively control more than 50% of the existing credit card market. Chase has been at the top of the market-share rankings since 2014.
Key Stats
- Top Credit Card Issuers by Outstanding Balances (2021): Chase (16.54%), American Express (12.36%), Citi (11.56%), Capital One (10.51%) and Bank of America (9.92%).
- Top Credit Card Issuers by Outstanding Balances (2022): Synchrony Financial (41.44%), Citi Retail Services (22.30%), Capital One (9.83%), Bread Financial (8.45%) and Wells Fargo Retail Services (6.77%)
- Top Business Credit Card Issuers by Purchase Volume (2021): Chase ($182 billion), Bank of America ($177 billion), Wells Fargo ($93 billion), U.S. Bank ($88 billion) and Capital One ($81 billion).
Credit Card Market Share by Outstanding Balances
Rank (2021) | Bank | 2021 Outstanding Balances in Billions (% Market Share) | 2020 Outstanding Balances in Billions (% Market Share) | 2019 Outstanding Balances in Billions (% Market Share) | 2018 Outstanding Balances in Billions (% Market Share) | 2016 Outstanding Balances in Billions (% Market Share) | 2015 Outstanding Balances in Billions (% Market Share) | 2014 Outstanding Balances in Billions (% Market Share) | 2009 Outstanding Balances in Billions (% Market Share) |
---|---|---|---|---|---|---|---|---|---|
1 | Chase | $154.3 (16.54%) | $141.66 (16.57%) | $157.58 (16.55%) | $145.26 (16.10%) | $141.82 (14.17%) | $130.24 (14.17%) | $129.57 (14.86%) | $165.87 (18.70%) |
2 | American express | $115.3 (12.36%) | $88.9 (10.40%) | $112.96 (11.87%) | $104.94 (11.60%) | $92.43 (9.24%) | $98.33 (10.70%) | $93.82 (10.76%) | $78.16 (8.81%) |
3 | Citi | $107.87 (11.56%) | $101.04 (11.82%) | $111.77 (11.74%) | $106.29 (11.70%) | $94.5 (9.44%) | $81.83 (8.90%) | $82.3 (9.44%) | $102.54 (11.56%) |
4 | Capital one | $98.03 (10.51%) | $89.94 (10.52%) | $96.71 (10.16%) | $94.32 (10.40%) | $90.43 (9.04%) | $82.03 (8.92%) | $72.66 (8.33%) | $55.46 (6.25%) |
5 | Bank of America | $92.57 (9.92%) | $94.31 (11.03%) | $106.56 (11.19%) | $106.58 (11.80%) | $101.56 (10.15%) | $99.76 (10.85%) | $100.24 (11.49%) | $145.1 (16.36%) |
6 | Discover | $74.37 (7.97%) | $70.2 (8.21%) | $72.37 (7.60%) | $67.81 (7.50%) | $61.52 (6.15%) | $57.9 (6.30%) | $56.13 (6.44%) | $48.9 (5.51%) |
7 | U.S. Bank | $40.09 (4.30%) | $38.05 (4.45%) | $40.57 (4.26%) | $37.32 (4.10%) | $37.16 (3.71%) | $34.09 (3.71%) | $32.88 (3.77%) | $20.17 (2.27%) |
8 | Wells Fargo | $34.77 (3.73%) | $35.01 (4.10%) | $41.53 (4.36%) | $40.7 (4.50%) | $38.83 (3.88%) | $35.41 (3.85%) | $35.21 (4.04%) | $30.89 (3.48%) |
9 | Barclays | $22.12 (2.37%) | $22.01 (2.58%) | $26.17 (2.75%) | $24.78 (2.70%) | $26.35 (2.63%) | $23.04 (2.51%) | $20.78 (2.38%) | $10.67 (1.20%) |
10 | Navy FCU | $21.76 (2.33%) | $19.2 (2.25%) | $18.06 (1.90%) | $15.67 (1.70%) | $12.49 (1.25%) | $10.76 (1.17%) | $9.51 (1.09%) | N/A N/A |
11 | Synchrony | $21.4 (2.29%) | $18.95 (2.22%) | $20.6 (2.16%) | $19.41 (2.10%) | $20.46 (2.04%) | $17.04 (1.85%) | $15.15 (1.74%) | N/A N/A |
12 | USAA | $14.47 (1.55%) | $16.4 (1.92%) | $18.72 (1.97%) | $18.66 (2.10%) | $18.93 (1.89%) | $18.47 (2.01%) | $17.78 (2.04%) | $12.96 (1.46%) |
13 | Credit One Bank | $8.25 (0.88%) | N/A N/A | N/A N/A | N/A N/A | N/A N/A | N/A N/A | N/A N/A | N/A N/A |
14 | Goldman Sachs | $8.21 (0.88%) | N/A N/A | N/A N/A | N/A N/A | N/A N/A | N/A N/A | N/A N/A | N/A N/A |
15 | PNC | $8.03 (0.86%) | $8.1 (0.95%) | $8.28 (0.87%) | N/A N/A | $6.39 (0.64%) | $5.95 (0.65%) | $5.56 (0.64%) | $5.08 (0.57%) |
(Source: Nilson Report, February 2022)
Credit Card Market Share by Purchase Volumes
Rank | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2013 | 2011 | 2009 | 2004 |
---|---|---|---|---|---|---|---|---|---|---|---|
1 | Chase | Chase | American Express | American Express | American Express | American Express | American Express | American Express | American Express | American Express | American Express |
2 | American Express | American Express | Chase | Chase | Chase | Chase | Chase | Chase | Chase | Chase | Chase |
3 | Citi | Citi | Citi | Citi | Citi | Citi | Bank of America | Bank of America | Bank of America | Bank of America | Citi |
4 | Capital One | Bank of America | Bank of America | Bank of America | Bank of America | Bank of America | Citi | Citi | Citi | Citi | MBNA |
5 | Bank of America | Capital One | Capital One | Capital One | Capital One | Capital One | Capital One | Capital One | Capital One | Capital One | Bank of America |
6 | Discover | US Bank | US Bank | Discover | Discover | Discover | Discover | Discover | Discover | Discover | Capital One |
7 | U.S. Bank | Discover | Discover | US Bank | US Bank | US Bank | Wells Fargo | US Bank | US Bank | US Bank | Discover |
8 | Wells Fargo | Wells Fargo | Wells Fargo | Wells Fargo | Wells Fargo | Wells Fargo | US Bank | Wells Fargo | Wells Fargo | Wells Fargo | US Bank |
9 | Barclays | Barclays | Barclays | Barclays | Barclays | Barclays | Barclays | Barclays | HSBC | HSBC | HSBC |
10 | Synchrony | Synchrony | Synchrony | Synchrony | Synchrony | Synchrony | USAA | USAA | Barclays | Barclays | Wells Fargo |
11 | USAA | USAA | USAA | USAA | USAA | USAA | USAA | N/A | USAA | USAA | USAA |
12 | Comdata | PNC | PNC | PNC | PNC | PNC | N/A | N/A | Synchrony | Synchrony | WaMu |
(Source: Nilson Report, February 2022)
Credit Card Market Share by Cards in Circulation
(Source: Nilson Report, February 2022)
Store Credit Card Market Share
Overview of the Store Credit Market
Info | 2022 | 2021 | Change 2022 vs 2021 |
---|---|---|---|
Purchase Volume (in Billions) | $218.85 | $206.85 | 5.80% |
Outstandings (in Billions) | $128.86 | $117.04 | 10.10% |
Cards in circulation (in Millions) | 301.5 | 302.10 | (0.20%) |
(Source: Nilson Report, September 2023)
Store Credit Card Market Share by Purchase Volume
Rank (2022) | Issuer | Market Share (2022) | Purchase Volume in Millions (2022) | Purchase Volume in Millions (2021) | Purchase Volume in Millions (2018) | Purchase Volume in Millions (2015) | Purchase Volume in Millions (2014) | Purchase Volume in Millions (2012) |
---|---|---|---|---|---|---|---|---|
1 | Synchrony Financial | 40.42% | $88,450 | $82,818 | $71,210 | $61,983 | $54,371 | $54,410 |
2 | Citi Retail Setvices | 22.51% | $49,270 | $46,394 | $46,692 | $49,440 | $48,000 | $41,416 |
5 | Capital One | 15.63% | $34,210 | $32,335 | $18,912 | $36,410 | $32,509 | $19,148 |
3 | TD Bank | 6.81% | $14,910 | $14,777 | $17,253 | $9,335 | $6,915 | $770 |
6 | Bread Financial | 6.47% | $14,170 | $21,149 | N/A | N/A | N/A | N/A |
4 | Wells Fargo Retail Services | 4.05% | $8,870 | $7,753 | $13,944 | $7,789 | $7,017 | $5,568 |
7 | AAFES (Military Star Card) | 0.90% | $1,960 | $1,872 | $1,931 | $1,714 | $1,863 | $2,033 |
(Source: Nilson Report, August 2013 - September 2023)
Store Credit Card Market Share by Outstanding Balances
(Source: Nilson Report, September 2023)
Business Credit Card Market Share
(Source: Nilson Report, May 2022)
Breakdown of Business Cards by Purchase Volume
Issuer | Corporate Cards | Purchasing and Fleet Cards | Small Business Credit Cards | Small Business Debit Cards | Prepaid Cards |
---|---|---|---|---|---|
Chase | $2.47 | $54.50 | $99.46 | $20.1 | $0.0 |
Bank of America | $6.52 | $43.42 | $51.57 | $50.5 | $25.5 |
Wells Fargo | $0.0 | $28.69 | $15.86 | $48.5 | $0.3 |
U.S. Bank | $3.09 | $40.81 | $25.79 | $6.8 | $11.0 |
Capital One | $0.0 | $0.73 | $77.58 | $2.5 | $0.0 |
Citibank | $10.97 | $18.73 | $32.66 | $2.7 | $0.0 |
Comdata | $0.0 | $47.83 | $0.0 | $0.0 | $1.8 |
PNC | $2.20 | $14.85 | $06.51 | $9.8 | $0.0 |
Bancorp | $0.0 | $0.0 | $0.0 | $0.7 | $32.2 |
Comerica | $0.0 | $2.02 | $0.0 | $0.8 | $29.8 |
Truist | $0.86 | $6.28 | $5.72 | $11.6 | $0.0 |
Meta Bank | $0.0 | $0.0 | $0.0 | $0.0 | $24.2 |
Note: The values in the above chart are in billions.
(Source: Nilson Report, May 2022)
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