JP Morgan Tops Nilson Report Ranking of US Credit Card Issuers
The 10 largest issuers generated $5.064 trillion in card spending in 2024
SANTA BARBARA, Calif., March 06, 2025 (GLOBE NEWSWIRE) -- Purchase volume—spending for goods and services—for Visa, Mastercard, American Express and Discover credit cards issued in the US reached $6.136 trillion in 2024, up 5.3% over 2023. For the sixth year in a row, JP Morgan Chase was the top issuer, based on more than $1.344 trillion in purchase volume.
American Express ranked second largest with $1.168 trillion in purchase volume, and Citi, which ranked third, had $616.10 billion. Capital One and Bank of America rounded out the top five.
'There are more than 4,500 financial institutions in the US. The 5 largest accounted for 69.1% of all spending on credit cards last year,' said David Robertson, Publisher of the Nilson Report. 'The 10 largest issuers accounted for more than 82.5%.'
Outstanding credit card receivables—unpaid balances—on American Express, Discover, Mastercard and Visa credit cards reached $1.346 trillion at year-end 2024, up 7.9%.
'Outstanding debt on cards is growing faster than spending, indicating that some consumers are falling behind on their obligations,' said Robertson.
The number of Visa, Mastercard, American Express and Discover credit cards in circulation was 942 million at year-end 2024. The number of in-store and online locations in the US where those cards could be used to make purchases of goods and services reached 34 million.
ABOUT THE NILSON REPORTFor more than 54 years, the Nilson Report has been the most respected provider of statistics and news about the global payment card industry. Available worldwide by subscription only, the Nilson Report does not accept advertising of any kind, nor can any company pay to be featured on its website or in its publications.
For more information or to request an interview with David Robertson, contact: Lori Fulmer, lfulmer@nilsonreport.com. Visit www.nilsonreport.com to begin a free trial subscription.Sign in to access your portfolio
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