ARLINGTON, Va. – The pace of consolidation in the overall creditcard industry continued apace in 2004 as a parade of mergers andacquisitions continued to mark the maturing industry, according toCardweb.com, a site on the World Wide Web that tracks card trends.According to Cardweb, the top 10 U.S. card issuers now controlroughly 84% of the U.S. card market, with the top three issuers,Chase Bank, Citigroup and MBNA, accounting for almost 50%. MBNA isa leading purchaser of credit union card portfolios and, accordingto Cardweb, was with Discover as one of the only card brands tohave ground to competitors in terms of accounts receivable as ofyear's end, the site reported.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
