Consumer Payment Card News

Credit Card Top 10

A few of the nation’s top issuers changed ranks during 2002. Providian and Direct Merchants slipped as the entire sub-prime credit card business fell on hard times due to the weak economy. However, the “Sears MasterCard” program became the 10th largest VISA and MasterCard program in the USA last year. Sears grew from $5 billion to $12.3 billion in credit card loans during 2002. Combined, the top 10 VISA and MasterCard issuers make up 70% of the total market, based on credit card outstandings.

              TOP TEN ISSUERS
            (VISA & MasterCard)

 1.  Citigroup           $116.6 billion
 2.  MBNA America         $79.5 billion
 3.  Bank One             $74.0 billion
 4.  Chase                $51.1 billion
 5.  Capital One          $47.3 billion
 6.  Bank of America      $29.5 billion
 7.  Providian            $20.0 billion
 8.  Household            $17.0 billion
 9.  Fleet                $16.2 billion
10.  Sears Natl Bnk       $12.3 billion

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