Credit Cards Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 2/19/2024
SIC Codes: 6021, 6022, 6141, 6153
NAICS Codes: 522210
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Credit Cards Industry Profile

Companies in this industry issue credit cards used by consumers and businesses to purchase goods and services in return for payment in full or in installments. Major companies include American Express, Bread Financial, Capital One Financial, and Discover Financial (all based in the US), as well as Credit Saison and Mitsubishi UFJ NICOS (both of Japan), and UnionPay (China). Major retailers, banks, and oil and gas companies also issue credit cards.

The number of credit cards in circulation worldwide is more than 25 billion and is expected to reach about 30 billion by 2027, according to Statista. While credit cards in circulation in the US is about 365 million, according to Global payments revenues are likely to rise year-on-year by nearly 9.5% in 2022 and ride a positive trajectory for the next decade, according to a new report by Boston Consulting Group (BCG).

The US credit card industry includes about 660 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $130 billion.

Financial transaction processors, such as MasterCard and Visa, provide transaction services for companies that issue credit cards and to merchants that accept credit card payments. That industry is discussed in a separate profile. Many card issuers use the MasterCard and Visa brands.


New payment technologies, including contactless, digital, and mobile payments, are disrupting the lucrative global payments industry and forcing credit card issuers ...

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