Consumer Payment Card News

Leadership Q3

VISA and MasterCard continue to jockey for leadership in the credit card market as MasterCard leads in accounts but lags in outstandings. At the end of the third quarter, VISA had $293.5 billion in U.S. credit card outstandings, compared to $282.7 billion for MasterCard. MasterCard ended the quarter with 218 million credit card accounts, about three million more than VISA. Year-over-year, VISA’s credit card business grew 8.6% for 3Q/04 while MasterCard posted a small 0.8% gain. Based on third quarter outstandings, VISA has a 44.3% share of the U.S. bank credit card compared to 42.7% for MasterCard. American Express holds a 5.8% share while Discover has a 7.1% share. For complete details on VISA and MasterCard statistics for the third quarter visit CardData (www.carddata.com).

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|_3. U.S. CREDIT CARD OUTSTANDINGS |
|_3. ($ Billions – Third Quarter 2004) |
|_. VISA | $293.5 | 44.3% |
|_. MasterCard | $282.7 | 42.7% |
|_. Discover | $47.1* | 7.1% |
|_. American Express:| $38.7** | 5.8% |
|_3. *as of 8/31/04 ** excludes charge card outstandings |
|_3. SOURCE: CardData (www.carddata.com) |

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