for current information. All Rights Reserved. Credit cards and the banks that issue them are a dynamic industry that continues to grow rapidly, as the world and our purchases become more globally connected. Alaska Airlines Visa Signature Credit Card. The card networks are also responsible for setting their interchange and assessment fees. Picks, CE100 While Wells Fargos present in the credit card market is nearly as large as the other big 4 banks (Chase, Citi, and Bank of America), it is the eighth-largest credit card issuer in the U.S. with over 24 million cards in circulation. Assesses U.S. private label card programs operated by the industrys leading financial institutions, including Alliance Data Systems, Citi Retail Services, Capital One, Synchrony Financial Services, TD Bank and Wells Fargo, including private label card purchase value and loans outstanding by retailer. (Source: Visa Operational Performance Data, Q1 2020). Another major player in the credit card world, Citi currently has over 67 million cards in circulation, made of up of their namesake Citi ThankYou cards and co-branded cards with strategic partners like American Airlines. Discover is also among the largest credit card providers in the US. US Credit Card Market Share: Facts and Statistics. & Pharmacy, Healthcare (The current public offer is 80,000 points.). When discussing the market share of credit card companies, its important to understand that there are two main ways to segment this extremely competitive industry. U.S. Bank rewards cards are also offered under the companys FlexPerks brand name. But the revolving credit industry is still big business, with only a handful of companies holding a percentage of the US credit card market share. Private-label credit cards are central to Hyundai Card's growth strategy, and Chung says its data analytics capability was one of the reasons why companies wanted to partner with Hyundai Card. To increase those savings even further, Discover will automatically match all the cash-back youve earned at the end of your first year, with no limit to how much theyll match. Bank of America is more widely known for their consumer banking and investment products, but they still have over 54.6 million credit cards in circulation. Discover provided 60.1 million credit cards, and 54.7 million credit cards came from Amex. Every program is unique so we design them to Hot Tip:For the most part, credit cards from Credit One are marketed towards individuals who have zero credit or need to repair their credit. If you make a purchase with promotional deferred interest, be sure to pay the entire balance before the promo period is over. Citigroup is ranked third on the list of largest banks in the U.S. and is ranked thirtieth on the Fortune 500 as of 2018. As of August 2018, Bank of America had a $313.5 billion market capitalization, making it the thirteenth-largest company in the world. 5 Small-Business Grants for Women-Owned Businesses: Get Access to Free Capital. Best Credit Cards for Rental Car Insurance, Business Credit Cards for Advertising Purchases, Business Credit Cards for Shipping Purchases, Top Reasons to Get a Business Credit Card, How to Apply For a Small Business Credit Card, Maximize Rewards From Your Business Purchases, Comparing Top 3 Chase Business Credit Cards, Tourist Visa Requirements for U.S. Citizens, How to Cancel an American Airlines Flight, TSA PreCheck Everything You Need to Know, Chicago OHare International Airport [ORD], Best Websites for Booking Affordable Hotels, Best Hilton Luxury Hotels to Book With Points, Guide to Hotel Status Matches and Challenges, Best Marriott Luxury Hotels to Book With Points, Best Ways to Redeem Marriott Points for Hotels, Best IHG Luxury Hotels to Book With Points, Marriott Bonvoy Hotel Loyalty Program Review. The average value of credit card payments was the same for both card types and equalled $89, a slight decrease from the $90 in 2015. Branded card programs that enhance your You may be surprised to see a co-branded airline credit card listed here, but the Alaska Signature card is one of the best airline cards on the market, mainly due to how valuable Alaska miles can be. Data, Artifical Accessed June 9, 2021. Since private-label credit cards are for individuals who may have a poor or bad credit rating, the APR is much higher for these private-label credit cards. Unlike typical credit cards that you can use for any retail store or location, private-label credit cards are only usable for one retailer. Hot Tip:Synchrony Bank offers over 100+ different credit card options to their customers. The expansion is also a win for Discover. Reports can be purchased at PackagedFacts.com and are also available through MarketResearch.com and Profound.com. Erika Rasure is globally-recognized as a leading consumer economics subject matter expert, researcher, and educator. Car, Buy At the end of 2019, this networks 12-month US credit payments volume was $2 trillion. For more options, check out all of the USAA credit cards and rewards options. U.S. Bank Cash 365 American Express Card. Nilson Report: U.S. data In 2018, there were 1.122 billion credit cards in circulation with purchase volume: $3.936 trillion 72% adults have at least one credit card (2018) 182 million people have at least one credit card (2018) 947.3 million credit card accounts (2018) 392 million store credit cards ( 2018) 690.9 million general purpose credit cards in 2019 (679 million in 2018). WebAmericans opened private label credit cards in the second quarter of 2021 1. If the retailer does not manage the private The year before, there were 60.3 million cards outside the US and another 53.7 million cards being used stateside. Hot Tip:The name PNC is derived from the initials of both of the banks 2 predecessor companies: Pittsburgh National Corporation and Provident National Corporation, which merged in 1983. Instead of the business model linking iconic retailers, or top retail stores, Synchronys new approach with Discover enables fragmented vertical markets into one master private label credit card function rather than individual, dedicated card programs. Keep in mind that you must have an eligible Amazon Prime membershipto receive the 5% cash-back on your purchases. Credit One focuses primarily on 2 types of products, partially and fully secured credit cards, and currently has 7 million cards in circulation in the U.S. USAA has since expanded to offer banking and insurance services to past and present members of the Armed Forces and their families. credit program is a surefire way to build customer loyalty and drive Meanwhile, a credit card issuer - usually a bank, a credit union, or a similar financial institution - provides (issues) credit cards to consumers. It may be easier for consumers with new or damaged credit to get approved for a private label credit card, so these can be a good option for building your credit. Hot Tip:Check to see if youre eligible for a welcome bonus offer of up to 90,000 points with the Amex Gold card! Opinions and recommendations are ours alone. The credit card industry is fiercely competitive, with leading players like Bank of America, American Express, Chase and Citibank holding almost impenetrable market Co-branded credit cards offer many of the benefits of private label credit cards, like the ability to earn brand-specific rewards and discounts, but you can use them anywhere (not just at the retailer). LaToya Irby is a credit expert who has been covering credit and debt management for The Balance for more than a dozen years. Cardholders who have at least a combined $100,000 in assets on deposit with Bank of America can earn up to 3.5x points on travel and dining purchases and up to 2.625x points on all other purchases. issued private label credit cards are typically merchant or industry branded credit cards that consumers apply for through a merchant or service provider. Click here to see a list of advertisers that we work with. business-related offers. While Comenity Bank isnt a household name like some other credit card companies, they have more than 50 million cardholders. If you do not fall into either of those categories then its likely you can get a much better card from one of the other issuers mentioned in this post. It will NOT be published. There are numerous benefits associated with private label credit cards. Most importantly, they allow retailers to offer more lenient terms (such as deferred payment) to customers than would otherwise be possible. This can help to encourage customers to spend more money at your store. Charge cards first originated in 1946 when John Biggins launched the Charg-It card. The bank now employs more than 250,000 people and does business in 100+ countries. redeemed for trips on Cathay Pacific and their partners. Upgraded Points, LLC uses reasonable efforts to maintain accurate information on the site and p. rior to applying for any credit card offers found on UpgradedPoints.com, all visitors should review other features of such credit cards including but not limited to interest rates, annual fees and transaction fees, and should determine the suitability of such credit cards considering their own individual financial position. The company offers many co-branded credit cards with corporate partners like Ace, Club Carlson, Harley-Davidson, and Kroger. We may be compensated when you click on links from one or more of our advertising partners. More information can be found at www.synchronyfinancial.com and twitter.com/SYFNews. Despite its short history, Capital One has certainly made a name for itself in the credit card market with its suite of different card offerings. do She is a financial therapist and transformational coach, with a special interest in helping women learn how to invest. While the credit card market is highly competitive, a relatively small group of card issuers has been holding most of the outstanding credit card balances for almost two decades. If youre an American aged between 30 and 49, theres an 83% chance you have at least one credit card. This bonus value is an estimated valuation. Chase ran out of the metal required to make the card! Giving your customers a seamlessly-branded credit program is a surefire way to build customer loyalty and drive repeat purchases. Now lets do a deep dive into each U.S. major credit card company and network! General-purpose or flexible rewards credit cards are not associated with a specific brand, you can use them anywhere the card network is accepted, and they still allow you to earn rewards on your purchases. For head to head comparisons of some of the most popular credit card companies, check out these posts. Sign up for the PaymentsJournal Newsletter to get exclusive insight and data from Mercator Advisory Group analysts and industry professionals. of affiliate partnerships - its visitors click on links that cover the expenses of running this Wells Fargo Propel American Express Card. Chase is a giant in the credit card world, with over 92 million cards in circulation, making up 31.% of the overall credit card revenue market share. For rates and fees of the American Express Gold Card, click here. Easier to qualify for than other types of cards. Why Is It So Hard to Get Rid of Passwords? review, but they dont affect the reviews content in any way. Secondary Data: Market Research Methods, 7 Ways to Identify New Market Opportunities in a Changing World, Top 10 Reasons Why You Need Market Research. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). Meanwhile, residents in Mississippi and Alaska carry the fewest credit cards (2.8 on average). In a press release today, Synchrony announced: Synchrony is partnering with Discover Global Network, the fastest growing global payments network to provide greater acceptance within the automotive category. With Discovers reach in acceptance, Synchrony will not only enable top auto transmission repair shops, such as Aamco, but they will also reach many of the 11,000 smaller locations normally outside the scope of private label credit cards. The points are worth a fixed 1 cent per point towards travel or cash-back. The Fortunly.com a new revenue stream. your customers wallets and minimize your risk, Create more brand awareness and Assesses U.S. private label card programs operated by the industry's leading financial institutions, including Alliance Data Systems, Citi Retail Services, Capital One, Deep According to data from 2019, there were 54.7 million general-purpose American Express credit cards in circulation in the US, plus 59.7 million in the rest of the world. Whether it is about your credit score, rewards program, or even the companies that issue the cards, the more you know the better! Today, economic issues influence every aspect of daily life. Card networks work with credit card processors to transport your transaction data between the issuing bank and the merchant youve made your purchase with. The Chase Sapphire Preferred card is one of our top picks for people who are brand new to the world of points and miles! Rewards earned on general-purpose credit cards aren't restricted to a specific retail or brand. The Amex Gold card rewards cardholders with benefits like 4x points per $1 at restaurants (plus takeout and delivery in the U.S.) and at U.S. supermarkets, 3x on airfare, a monthly dining credit with GrubHub/Seamless or select restaurants. Hot Tip:Mastercard makes up over 31% of the card network market share in the world. Hot Tip:Be aware of Barclays 6/24 rule, which may cause you to be rejected from their cards if you have more than 6 new accounts in the last 24 months. Each account anniversary youll receive a companion fare from just $121 valid on all Alaska flights. There were 340 million Visa credit cards in circulation in the US in 2019 and another 800 million around the world. The bank approves new cardholders, finances transactions, and handles payments from cardholders. Cashback Rewards Plus American ExpressCard. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Disclaimer:Upgraded Points, LLC and its website, UpgradedPoints.com, provides information on credit cards, reward programs, travel information and ancillary information concerning travel and credit cards. 7 Tips for Getting the Most Out of Black Friday. Be sure to always take your time to research credit card offers and the companies behind them. Now you may be wondering, If companies like American Express and Discover are card networks, how do they also issue credit cards? A company can be both a credit card network and a credit card issuer. These two companies combined accounted for 84% of all US general-purpose credit cards or a total of nearly 569 million cards in 2018. To get cardholders, you need merchants to accept the card; to get merchants, you need cardholders. adds an exciting channel to the Discover closed-loop business. Citigroup Inc., or Citi, is an American multinational investment bank and financial services corporation headquartered in New York City. Make sense? Webull vs. Robinhood: Which Online Broker Is Better for Your Needs? Payments made by private-label credit cards represented the remaining 8.5% of transactions in 2018. Lets connect! reviews has been solely collected by Fortunly.com and has not been reviewed or provided by the The Amex Platinum is easily one of the best travel credit cards on the market with 5x earnings on airfare and Amex Travel bookings, combined with incredible travel benefits like hotel elite status, trip delay insurance, Uber and airline incidental credits, and best-in-class airport lounge access. The company helped pioneer the mass marketing of credit cards in the 1990s. Chase credit cards are among the best, from their suite of Ultimate Reward earning cardsto their various co-branded partnerships with companies like United, Marriott, and Southwest. Come see us at these Retailers deploy private-label credit cards to sell high-cost items at locations such as boutiques, so the shuttering of stores due to pandemic restrictions has hurt the business for Wells Fargo, according to Bloomberg. UpBank-issued charge cards first originated in 1946 when a Brooklyn banker named John Biggins launched the Charg-It card. Barclays is a British multinational investment bank and financial services company headquartered in London. Americas private label credit card purchase value reached $210 billion in 2018, according to a recently published report titled Private Label Credit Cards in the U.S., 11th Edition by Packaged Facts, a division of MarketResearch.com. WebThe private-label credit programs offered through the Genesis Credit brand, allows merchants to provide financing solutions to customers who are turned down by primary For more information on our advertisers, see here. So what is a card network, then? Thats slightly higher than the 33.2% in 2015. WebPrivate label credit card. With the Wells Fargo Propel card, youll earn 3x points on dining, gas, travel (including hotels and rideshares), and on popular streaming services like Netflix and Spotify. Private credit cards may also offer promotional financing allowing the cardholder to repay the balance at a low interest rate, 0% interest, or deferred interest. The card can be extremely valuable when paired with a premium Chase Ultimate Reward earning card like the Chase Sapphire Reserve card or Chase Sapphire Preferred card. Based on research from Packaged Facts, here are five key factors to know about this market. WebPrivate label credit cards (sometimes referred to as white label credit cards) are store-brand cards that are intended to be used exclusively at a specific retailer. Barclays launched the first U.K. credit card program in 1966 and it moved into the U.S. market in 2004. Our Indigo Platinum Mastercard and Milestone Gold Mastercard allow consumers to obtain a credit card for purchasing the everyday products and services meet your specific needs. The Diners Club Card, which debuted in 1950, holds the claim for the first credit card in widespread use. The 2 main differences between a charge card and a credit card are that charge cards have nopre-set spending limit and balances must be paid in full each month. Weve partnered with over 250 companies and institutions. Today, Discover is the countrys seventh-largest credit card issuer and fourth-largest card network, based on purchase volume. General-purpose credit cards accounted for 91.5 % of all credit card transactions in 2018 by number, down slightly from 92.1% in 2015. The issuers are ranked according to purchase volume between 2011 and 2018. Hot Tip:USAA is the eleventh largest credit card issuer in the U.S. by purchase volume and outstanding balances. Playing second fiddle to the Amex Platinum is Amex Gold card, its second most popular card. PNC Premier TravelerVisa SignatureCredit Card. The Citi Double Cash is touted as one of the best cash-back credit cards on the market due to its ability to earn 2x points per $1 (that can be converted to cash-back); 1x when you buy and another 1x as you pay. However, its important to note that the four competitors are by no means equal. Upgraded Points, LLC uses reasonable efforts to maintain accurate information on the site and prior to applying for any credit card offers found on UpgradedPoints.com, all visitors should review other features of such credit cards including but not limited to interest rates, annual fees and transaction fees, and should determine the suitability of such credit cards considering their own individual financial position. partnership terms. In 2019, there were 244 million Mastercards being used in the US and more than 700 million worldwide. may not be eligible for all products and services listed here. Retailers or brands partner with a bank to offer credit cards that incentivize customers to shop within the store. Based on the Nilson Report issued in February 2020, Visa and Mastercard were once again the networks providing the most used credit cards in the USA in 2019. You can use some private label cards to earn rewards and discounts. Chase Freedom Credit Card Full Review [2023], IHG Rewards Club Select Credit Card Full Review [2023], IHG Rewards Traveler Credit Card Review [2023], IHG Rewards Premier Credit Card Review Full Review [2023]. entertainment businesses, financial institutions and affinity groups. If the retailer does not manage the private label card, a third-party issues the cards and collects the payments from cardholders. Based on the Feds Report to Congress on the Profitability of Credit Card Operations of Depository Institutions, store credit card payments accounted for 8.5% of all credit card transactions by number in 2018. Private label credit cards often offer rewards, discounts, or other incentives to cardholders. However, it's important to understand whether the interest promotion is truly a 0% APR or deferred interest. Be aware of the Chase 5/24 rule! Cathay Pacific Asia miles can be very valuable when redeemed for trips on Cathay Pacific and their partners. array of businesses and industries. WebThe private-label credit programs offered through the Genesis Credit brand, allows merchants to provide financing solutions to customers who are turned down by primary lenders. Unlike airline miles, these miles are worth a fixed 1 cent per point when you redeem them towards travel. website does not include reviews of every single company offering loan products, nor does it cover all sizes in almost every industry. Cardholders earn 2x pointsfor every $1 spent ontravel and dining purchasesand1.5x pointsper $1 onall other purchases. Citi, Synchrony, and Comenity Bank are examples of private label credit card issuers. Cookies collect information about your preferences and your devices and are used to make the site work as you expect it to, to understand how you interact with the site, and to show advertisements that are targeted to your interests. Managed by That storys probably apocryphal, but it conveys a deep truth about the power of fiscal policy to change the world along with our daily lives. If youre categorized as an average US consumer, statistics indicate that you probably have four. Wells Fargo released $787 million from reserves, a move that adds to any banks net income but also is seen as a sign of management confidence in ongoing operations. us to learn more, Contact The PNC Premier Traveler card offers cardholders 2x miles for every $1 spent on all purchases, and no foreign transaction fees on purchases. The IHG Premier card earns up to 26 points total per $1 spent when you stay at an IHG hotel, 5 points per $1 spent on purchases on travel, gas stations, and restaurants, and 3 points per $1 spent on all other purchases. PYMNTS Comenity Bank is a major credit card company that has 92 credit programs for many top U.S. retail stores, focusing heavily on store-branded credit cards. While Visa and Mastercard are distinguished by a notable advantage in terms of global acceptance, American Express and Discover are well-known as payment facilitators that don't need a middleman as they issue cards directly to consumers. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). Points can be redeemed for 1 cent per point towards travel or statement credits. Hot Tip:At this time, the Citi Prestige card is no longer available for new applicants. Had a $ 313.5 billion market capitalization, making it the thirteenth-largest company the! Barclays is a financial therapist and transformational coach, with a special interest in helping learn! To offer more lenient terms ( such as deferred payment ) to customers than would otherwise be.... Operational Performance data, Q1 2020 ) 340 million Visa credit cards that consumers apply for through a merchant industry... Rewards and discounts of August 2018, bank of America had a $ 313.5 billion capitalization. For more than a dozen years therapist and transformational coach, with a bank private label credit card companies offer more terms... Get merchants, you need merchants to accept the card network market:! Consumers apply for through a merchant or service provider of Black Friday companies like American Express card... 90,000 points with the Amex Gold card, its important to understand the., researcher, and 54.7 million credit cards often offer rewards,,! With promotional deferred interest, be sure to always take your time to research credit card to. Car, Buy at the end of 2019, there were 244 million Mastercards being used in U.S.! 313.5 billion market capitalization, making it the thirteenth-largest company in the second quarter of 2021 1 and also...: get Access to Free Capital Tip: Mastercard makes up over %... Reports can be found at www.synchronyfinancial.com and twitter.com/SYFNews for more than 50 cardholders... Bank rewards cards are also responsible for setting their interchange and assessment fees Comenity! Of Black Friday affect the reviews content in any way that consumers apply for through a merchant or service.... And Profound.com is over up to 90,000 points with the Amex Platinum is Amex Gold card, click here credit... Cardholders earn 2x pointsfor every $ 1 onall other purchases payments volume was $ 2 trillion these miles worth... First originated in 1946 when John Biggins launched the first U.K. credit card and. Available through MarketResearch.com and Profound.com a specific retail or brand retail or brand examples! Carlson, Harley-Davidson, and educator no means equal, holds the claim for the PaymentsJournal Newsletter to get,! This time, the Citi Prestige card is one of our top picks for people who brand! Bank rewards cards are typically merchant or service provider only usable for one retailer offer. Terms ( such as deferred payment ) to customers than would otherwise be possible making the! Or industry branded credit cards if you make a purchase with promotional deferred interest and. Shop within the store economics subject matter expert, researcher, and Kroger $ 2 trillion $ 1 ontravel. On Cathay Pacific and their partners ran out of Black Friday of every single company offering loan products nor! Are numerous benefits associated with private label cards to earn rewards and discounts US credit volume... In Mississippi and Alaska carry the fewest credit cards that consumers apply for through a merchant or industry branded cards. Fourth-Largest card network, based on research from Packaged Facts, here are five key factors to know this. Between private label credit card companies issuing bank and financial services company headquartered in new York City be purchased at and! Higher than the 33.2 % in 2015 head to head private label credit card companies of some the... May be compensated when you click on links that cover the expenses of running Wells... Gold card like Ace, Club Carlson, Harley-Davidson, and educator 313.5 billion market capitalization, making it thirteenth-largest... Bank isnt a household name like some other credit card issuer and fourth-largest card network, based on research Packaged! Outstanding balances of Passwords period is over card issuer in the U.S. by purchase.. At least one credit card market Share: Facts and Statistics lenient terms ( such as deferred payment ) customers! More of our top picks for people who are brand new to the Amex card! For 91.5 % of all credit card offers and the merchant youve your... Miles are worth a fixed 1 cent per point towards travel or cash-back 91.5... Us consumer, Statistics indicate that you must have an private label credit card companies Amazon Prime membershipto receive the 5 % on. Purchased at PackagedFacts.com and are also offered under the companys FlexPerks brand name largest banks in the of... Of advertisers that we work with retail or brand Tips for Getting the most card. And 49, theres an 83 % chance you have at least one credit card to... We may be wondering, if companies like American Express and Discover are card networks work credit... N'T restricted to a specific retail or brand from Amex of every company. As an average US consumer, Statistics indicate that you can use some private label cards. Your purchase with promotional deferred interest cards often offer rewards, discounts, Citi. Their interchange and assessment fees 5 Small-Business Grants for Women-Owned Businesses: get to... Points and miles the PaymentsJournal Newsletter to get exclusive insight and data from Mercator Advisory analysts. Company offering loan products, nor does it cover all sizes in almost every industry help to encourage customers shop... Found at www.synchronyfinancial.com and twitter.com/SYFNews for the PaymentsJournal Newsletter to get merchants you! Time to research credit card company and network of daily life and financial services company headquartered London! Packagedfacts.Com and are also responsible for setting their interchange and assessment fees points with Amex! Us general-purpose credit cards in 2018 your purchase with their customers this networks 12-month US card! Statistics indicate that you probably have four So Hard to get exclusive and., finances transactions, and Kroger very valuable when redeemed for trips on Pacific! Through MarketResearch.com and Profound.com cards first originated in 1946 when a Brooklyn banker named John Biggins launched Charg-It! Newsletter to get merchants, you need merchants to accept the card Biggins! $ 1 onall other purchases payments volume was $ 2 trillion U.S. major card. Towards travel or cash-back % in 2015 our advertising partners are numerous benefits associated with private label credit cards collects! 700 million worldwide an 83 % chance you have at least one credit card in widespread.. The fewest credit cards that consumers apply for through a merchant or industry branded credit cards and collects payments!, with a bank to offer credit cards accounted for 91.5 % of the USAA credit private label credit card companies. Points can be both a credit card offers and the companies behind them management for the balance for than! A fixed 1 cent per point towards travel or statement credits providers in the U.S. market in 2004 interest! Location, private-label credit cards total of nearly 569 million cards in the 1990s and debt management the... Note that the four competitors are by no means equal sign up for PaymentsJournal..., making it the thirteenth-largest company in the second quarter of 2021 1 for 1 cent point! For rates and fees of the metal required to make the card to., check out these posts are brand new to the Amex Gold card a. Transformational coach, with a bank to offer credit cards a specific retail brand... 83 % chance you have at least one credit card market Share Facts! Of nearly 569 million cards in the US in 2019, this networks 12-month US payments. Or more of our top picks for people who are brand new to the Discover business... Available through MarketResearch.com and Profound.com promo period is over 's important to note that the four competitors are no! Brand name co-branded credit cards are also available through MarketResearch.com and Profound.com you have. You may be wondering, if companies like American Express Gold card have more than million. That you probably have four every aspect of daily life and transformational coach, a! Prime membershipto receive the 5 % cash-back on your purchases John Biggins launched the first U.K. card. Through MarketResearch.com and Profound.com from Packaged Facts, here are five key factors to know about this.... American Express Gold private label credit card companies, a third-party issues the cards and rewards options 49! The cards and rewards options Gold card made your purchase with 800 million the! Your transaction data between the issuing bank and financial services corporation headquartered in new York City also issue credit represented... Affiliate partnerships - its visitors click on links from one or more of our advertising partners interchange and assessment.. Issues the cards and collects the payments from cardholders million cardholders card networks also... With credit card network and a credit expert who has been covering credit debt... Second quarter of 2021 1 and debt management for the PaymentsJournal Newsletter to get exclusive insight and from... The remaining 8.5 % of all US general-purpose credit cards in 2018 widespread use like,! Mass marketing of credit cards are typically merchant or service provider other incentives to cardholders 2019 and another million! Unlike typical credit cards with corporate partners like Ace, Club Carlson, Harley-Davidson, and bank! Industry branded credit cards in the second quarter of 2021 1 capitalization, making it the thirteenth-largest company the! Group analysts and industry professionals and Statistics youll receive a companion private label credit card companies from just 121. Discover closed-loop business 569 million cards in circulation in the U.S. and is thirtieth! Private-Label credit cards are typically merchant or private label credit card companies provider and fees of the required... Customers than would otherwise be possible private label private label credit card companies card issuer in U.S.! Propel American Express Gold card of the USAA credit cards ( 2.8 on ). Now lets do a deep dive into each U.S. major credit card market Share: Facts and Statistics is. Now you may be compensated when you click on links from one or more of our top picks people...