Bad Credit Online Magazine - Daily News and Advice on Credit, Debt and Mortgage : Credit card market is controlled by big three
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January 07, 2006
Credit card market is controlled by big three
If you carry credit card in your wallet, which you most likely do, there is a very high chance it issued by one of the three largest credit card issuers in US and entire world. With acquisition of MBNA completed, Bank of America controls staggering $140 billions in account balances, narrowly edging Chase which has $138 billions in the books. Citi is trailing with $114 billions. This is $392 billions among these three, which is almost 60% of the US total outstanding credit card balances.
Posted in Credit Cards at January 7, 2006 11:26 PM
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