Credit card issuers move billions of dollars in purchases every day, steering bank strategy, shaping consumer habits, and fueling economic activity. A small group of dominant players handles most of this volume, battling for market share in a space where size, speed, and customer retention drive success. Their scale isn’t just a status symbol—it’s the result of deep infrastructure, bold marketing, and the confidence of millions of cardholders.
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Data for today’s episode is provided by Javelin Strategy & Research’s Report: Credit Card Databook, Part 2: Balancing Risk and Reward in a Resilient Economy
Largest Issuers by Credit Card Purchase Volume, 2023 (in Billions of Dollars)
- JP Morgan Chase – $1,164
- American Express – $1,127
- Capital One – $606
- Citi – $592
Source: Discover investor presentation; company financial reports (2024)
About Report
The U.S. consumer credit card market continues to perform well for issuers, but underlying trends signal the need for careful oversight. While cards remain a favored payment method among consumers, profit growth is beginning to taper off, and there’s a noticeable uptick in delinquencies and charge-offs. These warning signs are more pronounced among smaller issuers, who often take on higher-risk borrowers through more relaxed underwriting. A new report from Javelin Strategy & Research explores the key market signals and challenges issuers must monitor as they work to grow their portfolios while managing exposure.
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