SANTA BARBARA, Calif., March 07, 2023 (GLOBE NEWSWIRE) -- For the fourth consecutive year, the Nilson Report has identified JPMorgan Chase as the largest issuer of credit cards in the United States. Chase led the industry in purchase volume (spending for goods and services) as well as outstanding receivables (unpaid balances).
Purchase volume initiated by all Visa, Mastercard, American Express and Discover credit cards issued in the US was $5.452 trillion in 2022. The 10 largest issuers generated $4.492 trillion in purchase volume, giving them an 82.39% share of the US market.
“For the first time in the history of the US credit card industry, two issuers, Chase and American Express, owned credit card portfolios that generated more than $1 trillion in purchase volume in a single year. Even so, the top 10 credit card issuers lost market share in 2022.” said David Robertson, Publisher of the Nilson Report.
Five US issuers — Chase, Amex, Citi, Capital One and Bank of America — owned portfolios of credit card outstandings of more than $100 billion.
The Nilson Report also released its annual ranking of the 50 largest US issuers of credit card products carrying the Visa and Mastercard brands. Those issuers collectively owned $811.14 billion in outstanding receivables at year-end 2022. Among the 50 US issuers of Visa and Mastercard credit cards were 12 credit unions.
ABOUT THE NILSON REPORT
For more than 52 years, the Nilson Report has been the most respected provider of data and news about the payment card industry. Available worldwide by subscription only, the Nilson Report surveys over 2,000 financial institutions and other payment card businesses to produce statistics about card issuers, card networks, merchant acquirers and technology providers. This business intelligence is not available from any other source. The twice-monthly newsletter also includes informative feature articles, concise updates regarding new products and services, monthly listings of investments and acquisitions by companies in the payment industry, and news about executive appointments.
The Nilson Report does not accept advertising of any kind. No company can pay to be featured in the Nilson Report.
For more information on our publication, to start a free trial subscription, or to request an interview with David Robertson contact: Lori Fulmer, lfulmer@nilsonreport.com
SOURCE: The Nilson Report, www.nilsonreport.com
