List of Credit Card Companies

Credit card companies are the financial organizations and institutions—including banks and credit unions, payment networks, and others—that facilitate credit card transactions. There are two categories of credit card companies: credit card issuers and credit card networks.

Credit card companies

While there are only four major credit card networks, there are many credit card issuers. The following are some of the most popular ones.

American Express

American Express is both a credit card issuer and a credit card network, though some American Express payment network cards are issued by other companies. American Express offers many card options, including cash back, rewards, and small business cards.

Capital One

Capital One is a relatively new bank, having been founded in 1994. In addition to credit cards, it offers other financial services and products, including auto loans, business loans, and checking and savings accounts.

Capital One issues a wide range of credit cards for nearly any type of consumer, including business, cash back, travel, and secured cards. It recently announced its intention to acquire Discover, which is both a credit card issuer and network.

Chase

Chase is the biggest bank in the U.S. in terms of total assets. It has one of the largest credit card portfolios of any issuer worldwide, including several business and personal credit card options. The Chase Ultimate Rewards program allows cardholders to redeem their rewards for cash back, statement credits, gift cards, and travel. It also lets you transfer points to a travel partner, with several airline and hotel options. In addition to credit cards, Chase offers home loans, auto loans, checking and savings accounts, and investing services.

Citi

Citi offers cash-back credit cards and cards with long introductory APR periods. With certain Citi credit cards, you can also earn points in the Citi ThankYou Rewards program, which you can redeem for cash back, gift cards, travel through the Citi portal, or transfers to Citi hotel or airline partners. Citi also offers high-yield savings accounts and other banking and wealth management services.

Discover

Discover is also a credit card issuer and network. Its financial products include personal and business credit cards, personal loans, home loans, student loans, and online banking products. It allows applicants to prequalify for credit cards and loans without a hard credit inquiry.

All Discover credit cards come with no annual or foreign transaction fees. Its Cashback Match program doubles your rewards at the end of the first year with your credit card.

Bank of America

Bank of America offers personal and business credit cards, including secured credit cards for people with bad credit and students with little to no credit history. It also offers other financial products, such as home loans, auto loans, checking accounts, and savings accounts.

Barclays

Barclays is a British universal bank that’s based in the U.K. but issues a large number of U.S. credit cards. Its co-branded cards include American Airlines, JetBlue, Wyndham, Frontier Airlines, GAP, Old Navy, and Banana Republic.

Synchrony Bank

Synchrony Bank mostly offers co-branded store credit cards, partnering with retailers such as Lowe’s, J.C. Penney, and Sam’s Club. The company also offers savings and money market accounts, certificates of deposit (CDs), and other financial products.

U.S. Bank

U.S. Bank provides financial products and services to individuals, businesses, and major corporations. Its credit cards have long intro APR offers, good rewards, and other benefits.

Wells Fargo

Wells Fargo offers mortgage loans, car loans, credit cards, and more. Its credit cards have long 0% intro APR offers, cash-back rewards, and more.

Credit card issuer vs credit card network

A credit card issuer is a financial institution, such as a bank or credit union, that backs its credit card financially. A credit card issuer is the lender. It approves or denies credit card applications; sets the card’s credit limit, annual percentage rate (APR), terms, and benefits; pays for the transaction on behalf of the cardholder; collects payments; reports card activity to the three main credit bureaus; and provides customer support.

A credit card network, sometimes called a “payment network,” authorizes, processes, and sets the terms of credit card transactions. A credit card network also transfers payments among shoppers, merchants, and banks. When you make a purchase with a credit card, the payment processors use a card network to communicate transaction information between the merchant’s bank and the financial institution that issued the credit card. The network charges the merchant an interchange fee, or a “swipe fee,” for processing the transaction.

There are four major credit card networks: American Express, Discover, Mastercard, and Visa. Visa and Mastercard partner with a variety of issuing banks, while American Express and Discover issue their own cards.

Smaller credit card issuers

Beyond the largest ones listed above, there are many smaller credit card issuers. These include regional and online banks and credit unions. Some of the larger national and regional banks include Fifth Third Bank, Goldman Sachs, HSBC, Huntington Bank, PNC, Regions Bank, and TD Bank. Some of the more popular online banks are Ally, Chime, and SoFi.

Many credit unions also offer credit cards. These include Alliant Credit Union, Bethpage Federal Credit Union, Blue Federal Credit Union, Connexus Credit Union, Consumers Credit Union, Pentagon Federal Credit Union (PenFed) and Wings Credit Union.

Should the credit card company affect my choice of card?

There are a few factors related to credit card companies that might influence your choice of a card. The first would be availability. If you can’t qualify for the card, you can’t get it. Plus, you might be more likely to get approved for a credit card if you already have an existing relationship with the bank and have established good financial habits with it.

Customer service might also affect your choice of a credit card. Some companies offer better customer service than others. You should review policies and customer reviews online before making a decision.

If you want to get a rewards credit card, you might also want to consider the company’s travel partners. Some travel rewards credit cards allow you to transfer points to a travel partner, such as an airline or a hotel, which can increase the value of your earned rewards. Using a credit card company that partners with multiple travel partners, especially those you use frequently, can be advantageous.

How do credit card companies make money?

Credit card companies make money in several ways. Networks charge merchants a fee for processing customer payments, which is a small percentage of each transaction (usually between 1.5% and 3.5%).

Issuers make money from charging consumers fees, such as annual fees, late payment fees, foreign transaction fees, balance transfer fees, overdraft fees, and more. They also make money from interest charges when cardholders don’t pay their full monthly balance. Credit card interest rates are usually very high, so issuers can make a lot of money on large or recurring balances.

How do credit card companies determine their APRs?

An APR is the cost of borrowing money on a credit card expressed as the yearly interest you will pay if you carry a balance on your card, plus any fees. APRs vary by company and card. Companies set a range for the APR for each card, and that rate will generally rise and fall with the prime rate.

A company determines the APR for each cardholder based on how it assesses the risk in extending credit to that cardholder. The assessment considers the applicant’s credit score, total debt, income, and payment and application information. Credit card companies generally offer lower interest rates to cardholders with the highest credit scores.

Lowering your credit card APR after you have the card for a while is possible. If your credit score has improved since you first got the card and have been making regular on-time payments, you may be approved for a lower APR if you request one directly with your card issuer.

Do credit card networks offer benefits?

Credit card networks do offer benefits to cardholders. They can include monitoring for fraudulent transactions, travel protections, and concierge services. In exchange for their services, credit card networks set interchange fees. These fees may involve a flat fee plus a percentage of the transaction amount and are split by different parties involved in the processing of the transaction.

Fees vary by credit card network; some retailers won't accept cards from networks that charge higher fees. The credit card issuer has the final say in which perks a credit card may have.

What is the role of credit card companies In finance?

Credit card companies are financial institutions. Issuers lend money, while networks facilitate financial transactions. The bank or financial institution issues you a credit card, which allows you to borrow a certain amount of money. When you go to make a purchase with it, the network transfers money from your card to the vendor. You then transfer money from your bank account to the credit card issuer to repay it for the money it lent you.

TIME Stamp: Credit card companies are either networks or issuers—or both

Credit card networks facilitate payments among merchants, banks, and consumers, while credit card issuers lend money to consumers and businesses. There are many issuers, but only four major networks—American Express, Discover, Mastercard, and Visa—with the first two also serving as issuers. By using a credit card responsibly, you can establish a strong credit history, making you eligible for other types of credit, such as car loans and mortgages.

Frequently asked questions (FAQs)

Who are the four major credit card companies?

The four major credit card companies are American Express, Discover, Mastercard, and Visa. The last two are networks that partner with a variety of issuing banks, while the first two are both networks and issuers, as they issue their own cards.

Which company gives credit cards easily?

No company gives credit cards easily, but some cards are easier to qualify for than others. Secured credit cards are the easiest to get, because they require a security deposit. Most secured cards don’t even run a credit check and approve applicants with bad or no credit.

Which is the best company for credit cards?

The best company for credit cards is a personal decision involving your credit score, financial situation, and what features you want. Rewards, interest rates, balance transfers, annual fees, and more should all be considered. You can compare offers from multiple companies to find the one that works best for you. You can also hold credit cards from multiple companies.

What are the best credit cards in today’s market?

The best credit card depends on the individual. What works for one person may not for another. In general try to combine low APRs with high spending limits and generous rewards that you will actually use.