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About LinkBacksThese numbers are from 2006 (you have to pay for the year 2007) but it's pretty interesting to see anyway. Here's a ranking of the credit card companies based on how much they have in receivables a.k.a. customer credit and yes those numbers are in billions.
1 Bank of America Charlotte, NC $170,736,623,000
2 JPMorgan Chase & Co. Wilmington, DE $146,100,000,000
3 Citigroup Inc. New York, NY $111,600,000,000
4 Capital One Financial Corp. McLean, VA $53,623,680,000
5 Discover Financial Services Inc. Riverwoods, IL $47,384,674,000
6 American Express New York, NY $37,368,000,000
7 Washington Mutual Bank Seattle, WA $23,501,000,000
8 Wells Fargo Bank San Francisco, CA $20,870,868,363
9 HSBC Credit Card Services Salinas, CA $18,260,017,000
10 USAA Federal Savings Bank San Antonio, TX $8,877,491,000
Shocked to see Discover had more than American Express, and that Capital One had more than both!
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Credit Card Issuers Ranked by Receivables
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed. Regardless, anything I say is my honest opinion.
Current Cards: American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Citi Thank You Premier
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Do these numbers include balances paid off every month or long term debt carried on the cards? I can't imagine Discover would be bigger than American Express they must be calculating it based on balances people carry. A lot of Amex cards are charge cards so people won't carry balances so it would make that number smaller.
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If you randomly asked people I don't think many people would guess B of A is the biggest credit card company out there. Quite surprising actually.
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This must have been after Bank Of America acquired MBNA credit cards..... Because I remember hearing their credit card division was like one thirs the size before that deal......
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Here's the Investopedia definition of receivables so from that I assume it includes both:
Originally Posted by Multi-Purpose
An asset designation applicable to all debts, unsettled transactions or other monetary obligations owed to a company by its debtors or customers. They include all debts owed to the company, even if the debts are not currently due. -InvestopediaDisclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed. Regardless, anything I say is my honest opinion.
Current Cards: American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Citi Thank You Premier
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HSBC has gotten a lot bigger than they were 2 yrs ago. On the east coast all the rage is about HSBC and that's what everyone uses, probably in the top 5 now.
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I'm not too familiar with HSBC since they aren't in my area but don't do they deal with a lot more sub-prime people? Originally Posted by coolpixxx
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MBNA was the biggest independent company before the Bank of America bought them out so it's no surprise to me that they're the biggest.
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I don't know about you folks in the rest of the country but here on east coast HSBC is big. Don't know if you know but that guy from Titanic Leonardo Dicaprio did endorsements for HSBC credit cards in Hong Kong. They said because the cards are made with eco-friendly stuff and they donate to charities for it too is why he did it. Sounds like a crock to me he didn't care about being green he cared about the green paid to him for it.
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Is HSBC customer base growing though? Seems like they've been the same forever. I know they are the ones that do the GM cards. With popularity of GM vehicles going downhill those cards probably have too. I think all of HSBC credit cards are Mastercard but I could be wrong on that.
It would be interesting to see what credit card company is growing the fastest right now. I didn't see anything on that yet.Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed. Regardless, anything I say is my honest opinion.
Current Cards: American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Citi Thank You Premier
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