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Americans Purchased $4.9 Trillion Using Cards in 2014
Friday, May 29, 2015 6:25 AM

General purpose-type consumer and commercial credit, debit, and prepaid cards issued in the U.S. generated $4.9 trillion in purchase volume at merchants in 2014, up 8.4 percent over 2013.

Credit cards carrying the Visa, MasterCard, American Express, and Discovery brands generated a combined $2.6 trillion in 2014, up 9.7 percent over 2013. The credit card market share in purchase volume is now 53.6 percent. In 2004, credit cards held a market share of 67.0 percent. Prepaid cards only hold a 4 percent market share. Debit cards hold the number two spot with a 42 percent market share.

Chase was the top issuer, generating $703.3 billion in purchase volume and accounting for 14.3 percent of all spending at merchants. American Express, the second largest issuer, maintains a 13.4 percent market share, followed by BofA with an 11.5 percent share. USAA is the 10th largest issuer in purchase volume, while Navy FCU is the 16th largest issuer and the largest in the credit union movement.

Other than Navy FCU, the other credit unions that would be in the top 10 issuers in the movement are State Employees CU in second (#34 in the top 100 issuers), BECU in third (#39 overall), America First CU (#50 overall), Suncoast CU (#51 overall), Golden 1 CU (#54 overall), Schools First FCU (#59 overall), Pentagon FCU (#60 overall), Randolph Brooks FCU (#63 overall), and in 10th Mountain America CU (#69 overall).

Source:  The Nilson Report, 20 May 2015