Who Issues the most Credit Cards?

What is a Credit Card issuer?

A credit card issuer is a body that provides the line of credit behind cards. Major banks like American Express, Bank of America, Citi, etc are the ones that issue credit cards. They use credit cards as a source of revenue through interest payments and fees. The bank is usually listed in the top right or left of the card and the credit card network is shown on the bottom right of the card.

Credit Card Issuer V.S Credit Card Network

Credit card networks such as Visa or Mastercard do not actually issue cards. They dictate where credit cards can be used, help facilitate payment processing at the point of sale, and administer secondary card benefits such as rental car insurance. The 4 major credit card networks are Visa, Mastercard, American Express, and Discover. Credit card issuers partner with credit card networks to put out the bank’s own credit cards for consumer purchases. 

The Top 10 Biggest Card Issuers

The biggest card issuers may be reliable options to get your first credit card, due to their established system. As of June 2021, here are the top ten biggest card issuers based on the amount of credit cards issued

1. Citi Bank: 95.4M Active Cardholders
2. Chase Bank: 82.8M Active Cardholders
3. American Express: 62.7M Active Cardholders
4. Capital One: 62.1M Active Cardholders
5. Bank of America: 58.2M Active Cardholders
6. Discover Financial Services: 38.7M Active Cardholders
7. Synchrony Bank: 36.7M Active Cardholders
8. Wells Fargo: 23.2M Active Cardholders
9. Barclays Bank Delaware: 16.3M Active Cardholders
10. U.S Bancorp: 13.7M Active Cardholders

It is important that you are affiliated with the bank or want to be affiliated with the bank before you apply for a credit card. 

Largest Credit Card Networks

The largest credit card network by far is Visa, with $1.549 Trillion purchases processed on its network. Next are American Express and Mastercard, with about $700B purchases processed on their networks respectively. Finally, Discover comes in fourth with $121B purchases. These networks provide numerous benefits to cardholders’ daily lives, so it is definitely worth researching the benefits of each before picking your card. 

Why is this Important?

For the average consumer, there is no need to know who issues the most credit cards, but understanding the difference between what the credit card issuer does and what the credit card network does is important. Your bank essentially gives you the credit card and the credit line so that you can make purchases. The networks help process those purchases and make sure they are being adequately reported to the bank so that they know your balance. If you have an issue with your credit card specifically, it is better to call the bank than it is the credit card network. 

Conclusion

There are many major banks that issue credit cards to people. What is most important is finding the bank, network, and credit card that is right for you. There are many different types of cards and banks that offer different services, so it is up to you to fully understand the system before going out and getting a credit card.