These are the major Credit Card Companies?
A credit card enables you to purchase anything by borrowing from a bank. As long as you can pay the bank back with an additional interest rate, you can use a credit card. Some credit cards offer benefits and rewards to their users. In the US, a major credit card is a credit card that has the Visa, Mastercard, American Express or Discover logo on it.
There are loads of different credit cards available today. Your credit score and history are a major factor that determines what kind of credit card you can get. If you have a good credit score and history you can opt for a major credit card. Here is a list of the major credit card companies.
1. American Express.
It was established in 1850 in New York City. It operates in 130 different countries. In 2016 American Express was the third largest credit card network in the US. It is the largest issuer of credit cards in terms of transactions that average at 6 billion transactions per year. Amex provides rewards to credit card users. It has partnered with Walmart to offer the Bluebird Prepaid Card as an attempt to expand its consumer reach.
Citibank targets people who have high income and above average credit standing. It is the consumer banking division of the financial services company, Citigroup. It was established in 1812. They have two reward systems, 'Simplicity' and 'Thank You'
It is the second most major credit card network in the United States of America. It offers an easy bill payment and protects personal information. Mastercard does not issue cards to consumers directly. You can apply for a Mastercard through an issuer or Bank.
Chase is a top issuer of general purpose credit cards in the US. These credit cards are issued by JPMorgan and Chase & Co. Chase offers a wide range of credit cards. They are credit cards mainly for people with above average credit.
5. Discover Network
It is the 7th largest credit card issuer and 4th largest card network based on purchase volume in 2016. It is a credit card for people with a good credit standing. Discover provides a lot of cash back and traveling promotion offers to its users. It has efficient fraud protection that keeps their consumer's details safe. None of the credit cards charges foreign transaction fees.
6. Capital One Bank
It is the 5th largest US credit card company. Capital On was established in 1995 and it is based in McLean, VA. Whether you have an excellent or poor credit score, Capital One will issue a credit card for you. It has a customer service that is available to its consumers 24/7. Capital One offers simple reward programs and reasonable fees. It was one of the first credit card issuers to remove foreign transaction fees from all its cards.
7. Bank of America
Established in San Fransisco in 1904, Bank of America is one of the biggest financial institutions in the world. It offers deposit accounts, investment vehicles and financial management services to its customers. The first general-use credit card was known as BankAmericard. It has become an institution that provides easy access for consumers through mobile banking and ensures security and protection.
8. Wells Fargo
Founded in 1852, Wells Fargo is now the 8th largest credit card issuer in the US. It offers credit to people with all levels of credit score.
Nowadays, having a credit card is necessary to book a hotel or rent a car. No matter what your credit score is, you need to research and find information about major credit card companies and their offers.
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