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An interesting read about card issuers and ranks them by number of accounts and by volume processing.
https://www.valuepenguin.com/largest-credit-card-issuers
Thanks. Good read. I just wonder how much the Costco switch boosted Citi and dropped Amex.
@RicHowe wrote:An interesting read about card issuers and ranks them by number of accounts and by volume processing.
https://www.valuepenguin.com/largest-credit-card-issuers
Some interesting qualities you can determine by seeing which companies move up and down the different charts.
Capital One for example: has lots of outstanding debts, and a large number of accounts, but grants substatially smaller lines of credit.
And American Express: with very little outstanding debt despite having lots of accounts with high limits.
One thing these articles miss is that AMEX is big on corporate travel and purchasing cards. Those will dwarf any typical consumer, thus the high transaction volume on relatively light card issuance.
I had not seen a breakout of the top ten before. I did not know that Barclays and Wells Fargo would be in there but in retrospect it makes sense, especially with all of the illegal Wells Fargo Activity.
+1NRB AMEX is big on corporate travel NO doubt..
What I find interesting how Synchrony Bank ranks in the top ten and how it ranks higher than several large traditional banks.
Lenders use securitization of credit card balances (sold to investors as bonds) which is the same process that caused the housing meltdown which went south along with loose lending standards. There is $1.2 +/- trillion in credit card debt outstanding in the USA - meaning carried balances, that along with rising interest rates (Federal Reserve action, not lender mark up), seems like mostly the same "players" - something to think (worry) about.
Very interest read, thanks for posting it!