Aug 12, 2024
Fact checked
Written by Adam McCann
WalletHub Financial Writer
Fact Checked by Alina Comoreanu
WalletHub Senior Researcher
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 Purchase Volume (2023): Chase ($1,246 billion), American Express ($1,124 billion), Citi ($594 billion), Capital One ($575 billion) and Bank of America ($494 billion).
- 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%)
Table of Contents
Credit Card Market Share by Outstanding BalancesCredit Card Market Share by Purchase VolumesCredit Card Market Share by Cards in CirculationStore Credit Card Market Share by IssuerBusiness Credit Card Market Share
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 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2013 | 2011 | 2009 | 2004 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Chase | Chase | 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 | American Express | American Express | Chase | Chase | Chase | Chase | Chase | Chase | Chase | Chase | Chase |
| 3 | Citi | Capital One | 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 | 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 | Discover | Discover | U.S. Bank | U.S. Bank | Discover | Discover | Discover | Discover | Discover | Discover | Discover | Capital One |
| 7 | U.S. Bank | U.S. Bank | U.S. Bank | Discover | Discover | U.S. Bank | U.S. Bank | U.S. Bank | Wells Fargo | U.S. Bank | U.S. Bank | U.S. Bank | Discover |
(Source: Nilson Report, February 2024)
Credit Card Market Share by Cards in Circulation
(Source: Nilson Report, February 2022)
Store Credit Card Market Share
Overview of the Store Credit Market
| 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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Credit Card Market Share by Issuer FAQ(9 questions)
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Upvotes
What is the most common credit card?
Reply
Theresa Chalfant, Writer
@theresa_chalfant
The most common credit cards are Visa cards, followed closely by Mastercard, based on the number of cards each network has in circulation. Both networks have hundreds of millions of cards from a variety of issuers and are the most widely accepted both in the U.S. and worldwide.
These credit cards aren't issued by Visa and Mastercard themselves, however. Many different banks and credit unions handle that. The most common credit card issuer is Chase, as the company has more than 149 million cards in circulation in the U.S., according to the Nilson Report. Chase and other large banks issue many of the most widely-used credit cards.
Credit Card Issuers With the Most Cards in Circulation
- Chase: 3 million
- Capital One: 9 million
- Citibank: 7 million
(Source: Nilson Report, 2022)
All of these networks and card issuers offer popular cards that are worth considering as you look for a credit card. It's good to compare offers before you apply, and WalletHub's free comparison tool can help you decide which card will best fit your needs.
Is Chase a good credit card company?
Reply
13
Chip Lupo, Credit Card Writer
@CLoop
Yes, Chase is a good credit card company for rewards, travel, and small business features, according to WalletHub reviews. Chase credit cards also have a user rating of 3.8/5 on WalletHub, based on more than 27,000 reviews.
Reasons Why Chase Is a Good Credit Card Company
- 3.8/5 average user rating on WalletHub
- 6 credit card offers rated 4+ out of 5 by WalletHub editors
- 149.3 million cards in circulation
- ...
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5
Upvotes
What is the most reliable credit card company?
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5
Ryan P Page, Staff Writer
@ryan_page
The most reliable credit card company is Mastercard. Although Mastercard does not issue any credit cards, they have a global network of millions of merchant locations in 210+ countries and territories, which means your Mastercard should reliably work wherever you try to use it.
You should also be able to reliably find a Mastercard credit card that suits your needs, whether you're looking for cash back, travel rewards, a student card, a secured card...
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3
Upvotes
What are the two most popular credit card companies?
Reply
Theresa Chalfant, Writer
@theresa_chalfant
The two most popular credit card companies in the U.S. are Chase and Capital One, based on the number of cards they have in circulation. These banks both offer a wide variety of credit cards with competitive rewards and benefits, making their cards popular choices among consumers. Both companies have over 100 million credit cards in circulation currently.
Both banks offer cards that are part of the Visa or Mastercard networks. Visa and Mastercard make up the...
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What is the best credit card network?
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2
WalletHub
@WalletHub
The best credit card network is a tie between Visa and Mastercard, when judged based on network size and merchant acceptance, both domestically and worldwide. Secondary benefits are another point of judgment, in which Visa and Amex win. But when judged on foreign transaction fees, Discover wins. So, which card network is best depends on which of these qualities benefits you most.
Acceptance
Mastercard has a slight acceptance advantage internationally. It's accepted in 210+ countries and territories compared...
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1
33
Upvotes
What are the best credit card companies?
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33
Milvionne Chery Copeland, Writer
@milvionne_copeland
The best credit card companies are American Express and Capital One, based on customer satisfaction. American Express ranks first in the latest J.D. Power Credit Card Satisfaction Study, and Capital One isn't far behind, as both companies have some of the best credit cards according to WalletHub.
Some of the factors the J.D. Power study used to measure customer satisfaction include credit card terms, communication, rewards, benefits and services, and problem resolution. Below, you will find the...
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1
Upvotes
What is the most popular credit card company?
Reply
Theresa Chalfant, Writer
@theresa_chalfant
Chase is the most popular credit card company in the United States. Chase has nearly 150 million cards in circulation that are accepted across the U.S. and around the world, and it has over $150 billion in outstanding balances, which makes up about 16.5% of the U.S. credit card market.
Most Popular Credit Card Companies
- Chase
- American Express
- Citibank
- Capital One
- Bank of America
Chase is a credit card issuer,...
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1
Upvote
What is the difference between a credit card issuer and a credit card network?
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1
Adam McCann, Financial Writer
@adam_mcan
The difference between a credit card issuer and a credit card network is what functions each serves. A credit card network mainly facilitates transactions and determines where cards can be used, while an issuer provides cards to consumers and chooses cards' terms, requirements and perks.
There are only four major credit card networks in the U.S.: Visa, Mastercard and American Express. But there is a multitude of credit card issuers – any bank or...
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1
Upvote
What is a credit card issuer?
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1
Maria Adams, Credit Cards Moderator
@m_adams
A credit card issuer is a financial institution that provides credit cards to consumers. Credit card issuers manage the credit card application process and choose the cards' terms, requirements and perks.
There is a multitude of credit card issuers – any bank or credit union that offers a credit card is an issuer. Some popular credit card issuers include Capital One, Chase, the Navy Federal Credit Union and many more.
What a Credit Card Issuer Does
- ...
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