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2004 Card Loans

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Growth in bank credit card loans in the U.S hit first gear last year with a paltry 1.2% gain. At the end of 2004, bank credit card loans stood at $684.9 billion, compared to $677.0 billion one year ago. American Express led the four major networks posting a 4.2% gain in U.S. credit card loans. (The AmEx figure does not include monthly charge card, 30-day credit or outstandings, according to RAM Research Group’s Bankcard Barometer.) Discover was essentially flat during 2004 at $48.3 billion. Among top issuers, MBNA posted a contraction, losing near a full percentage point of market share last year, according to CardData (www.carddata.com). MBNA is predominantly a MasterCard issuer.

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|_4. MAJOR BRANDS U.S. CREDIT CARD LOANS|
|_4. ($ credit card loans)|
|_. NETWORK | 2003 | 2004 | CHNG|
|_. VISA | $296.9b | $302.9b | +2.0%|
|_. MasterCard | $293.2b | $293.6b | +0.1%|
|_. Discover | $ 48.4b | $ 48.3b | -0.2%|
|_. American Express | $ 38.5b | $ 40.1b | +4.2%|
|_. TOTAL | $677.0b | $684.9b | +1.2%|
|_4. Source: RAM Research Group’s Bankcard Barometer|

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