JUMP TO Section Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.Affiliate links for the products on this page are from partners that compensate us and terms apply to offers listed (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate credit cards to write unbiased product reviews.
The information for the following product(s) has been collected independently by Business Insider: U.S. Bank Altitude® Reserve Visa Infinite® Card. The details for these products have not been reviewed or provided by the issuer.
Introduction to Credit Card Companies
What Are Credit Card Companies?
Do you know the difference between a credit card company and a credit card payment network? Both companies claim a spot on the front of your credit card — but they're entirely different things. Credit card companies issue the credit card and your available credit limit, while payment networks process the actual transaction when you swipe your card. Some credit card companies are also payment networks, like Discover and American Express.
The Role of Credit Card Companies in Finance
A credit card company, or issuer, is a bank or credit union that extends credit to you for your everyday spending. A payment network does the job of transferring money from your card to the merchant with which you're paying. In other words:
- The bank issues you a credit card, allowing you to borrow a certain amount of money for whatever you like
- The payment network transfers the money from your card to the store you're at when you buy goods
- You transfer money from your bank account to the credit card issuer to repay them for the money they lent you
Largest Credit Card Companies
Overview of Leading Credit Card Companies
There are four major payment networks used by the US (and certainly there are several others used internationally): American Express, Discover, Mastercard, and Visa. All are accepted at tens of millions of locations around the world — although some, like American Express, aren't as widely accepted in certain regions.
Let's look at the most popular credit card issuers in the US, all of which use one of the above four payment networks. We'll examine their general personalities and touch on application restrictions, too.
American Express
American Express is both a credit card issuer and a payment network. Yes, it offers its own cards as well as co-branded credit cards like Delta credit cards. But other card issuers use Amex's payment network, as well — such as some USAA credit cards.
The company is also known for issuing cards that don't have a firm credit line — something other banks have tried in the past and mostly abandoned. Examples of such cards include The Platinum Card® from American Express and the American Express® Gold Card. These were once called "charge" cards, which allowed cardholders generous (unspoken) spending parameters but demanded that the full balance be paid each month. Amex has since implemented a feature on these cards called "Pay It Plan It".
While Amex offers a card for just about any goal and budget, its focus is on premium cards that earn travel rewards, many of which have lofty annual fees. These cards can be well worth the price tag, though; Amex Membership Rewards points, the issuer's rewards currency, are some of the most valuable points you can collect — and you can transfer them to Amex's airline and hotel partners for free flights and hotels.
Read our guide to the best American Express cards to see how immensely valuable these cards can be.
Notable credit card application rules: American Express has a strict application rule that prohibits you from earning a welcome bonus on a specific card more than once per lifetime. For example, if you've previously earned a bonus on the Blue Cash Preferred® Card from American Express, you can't ever get it again (unless Amex specifically targets you for another offer).
Amex considers "credit cards" to be any cards with either a firm credit limit or those enrolled in "Pay It Plan It." The bank enforces a limit of five credit cards per account. Also, you can only be approved for two credit cards every 90 days.
Bank of America
Generally speaking, Bank of America's target audience is more the average cardholder who prefers easy-to-use rewards without paying a large annual fee. Most of the products they offer are no-annual-fee credit cards that accrue either cash back or other rewards that can be redeemed for a flat rate, such as the Bank of America® Customized Cash Rewards Credit Card and the Bank of America® Travel Rewards credit card.
However, the company also issues some of the best airline credit cards in the game — partnering with airlines like Alaska. The miles these cards collect are the single most valuable airline rewards currency in existence, per Business Insider's points and miles valuations.
In addition, many (non-cobranded) credit cards get a major rewards boost for cardholders that participate in the Bank of America Preferred Rewards loyalty program, which bonuses your earnings depending on which status tier you hold:
- Gold: Earn 25% more rewards on purchases (must have a minimum of $20,000 on deposit in eligible Bank of America/Merrill accounts)
- Platinum: Earn 50% more rewards on purchases (must have a minimum of $50,000 on deposit)
- Platinum Honors: Earns 75% more rewards on purchases (a minimum of $100,000 on deposit)
This can catapult the earning rate of the best Bank of America credit cards above just about anything else on the market.
Notable credit card application rules: Bank of America tends to allow you to open no more than:
- Two credit cards within two months
- Three credit cards within 12 months
- Four credit cards within 24 months
Additionally, you'll find that you can't open a card if you've held it within the past 24 months. If you've canceled a card that you've since decided that you miss, you won't be able to get it unless it's been at least two years.
Barclays
Barclays Bank is a British universal bank. It lives in the UK, but it issues a large number of US credit cards, partnering with brands such as JetBlue, American Airlines and Wyndham hotels.
The bank also issues a handful of co-branded store credit cards from merchants such as Banana Republic, GAP, and Barnes&Noble.
Barclays credit cards tend to come with extremely low minimum spending requirements to unlock generous bonuses (almost never over $2,000 in purchases).
Notable credit card application rules: Data points suggest that Barclays is very hesitant to approve you for a credit card if you aren't routinely spending on your current Barclays card. It wants to know that the cards it extends to you will truly play a role in your spending habits (instead of perhaps only opening a credit card for the welcome bonuses).
Capital One
Capital One credit cards have become some of the hottest products of late, offering what are largely considered some of the best rewards credit cards in the most popular categories, such as cash back, travel rewards, secured credit cards, and student credit cards.
As an example, the Capital One SavorOne Student Cash Rewards Credit Card offers up to 10% cash back on certain purchases and benefits like a free Uber One membership (otherwise $9.99 per month) through November 14, 2024 — and you don't even need a high credit score to open it.
Capital One does not partner with any airlines, hotels, or other travel companies to co-brand credit cards like most other card issuers. However, they have still cultivated relationships that allow those who earn Capital One miles (the bank's proprietary travel currency) to convert rewards into airline miles and hotel points with Capital One partners such as Air Canada Aeroplan, Wyndham, and British Airways.
Cards that earn Capital One miles include the Capital One Venture X Rewards Credit Card and Capital One Venture Rewards Credit Card.
Notable credit card application rules: You can only have two personal Capital One-branded credit cards at once (e.g. the Capital One VentureOne Rewards Credit Card and the Capital One Venture X Rewards Credit Card.
You can be approved for one card per six-month period. An overwhelming number of personal reports in online forums suggest Capital One can be rather picky about approving folks for cards, even those with an excellent credit score.
Chase
Chase offers some of the best credit cards in existence — and steadily continues to release new products. In the past couple of years, Chase has added cards like the Aeroplan® Credit Card, World of Hyatt Business Credit Card, and United Quest℠ Card — all of which are uniquely valuable.
Similar to American Express, the bank has worked hard to create an extremely valuable rewards system (Chase Ultimate Rewards®) and airline and hotel partners such as Hyatt, United Airlines, and more. But it also offers a vast catalog of co-branded credit cards, partnering with brands such as Marriott, Southwest , and IHG.
Chase credit cards are at the top of the food chain when it comes to travel insurance. The Chase Sapphire Reserve® is the best card you can use to cover your trip, as you'll get things like:
- Primary rental car insurance
- Trip delay insurance, which will reimburse you up to $500 for food, hotel, transportation, etc. when your flight is delayed by at least six hours (or requires an overnight stay)
- Baggage delay insurance up to $500 ($100 per day for five days) when your bag is delayed by at least six hours
- Trip cancellation/interruption insurance to reimburse you for nonrefundable travel (up to $10,000 per ticket, maximum $20,000 per trip) when a covered disaster occurs that prevents you from taking — or finishing — your vacation
Chase issues a handful of exceptional credit cards that it markets as cash-back credit cards (such as the Chase Freedom Unlimited® ). In reality, these cards earn Chase Ultimate Rewards points. If you've got an annual fee-incurring card Ultimate Rewards card such as the Chase Sapphire Preferred® Card, you can convert the rewards you earn with many of its other cards into airline miles and hotel points.
Read Business Insider's guide to the best Chase cards for more information.
Notable credit card application rules: Chase will not approve you for the vast majority of its credit cards if you've already opened five or more credit cards, even if they're issued by other banks, in the last 24 months (this is commonly known as the Chase 5/24 rule). The only exception is most small business cards, which do not appear on your personal credit report. You'll also generally be approved for no more than two personal cards and one business credit card every 30 days.
In some cases, Chase personal cardholders cannot open another personal credit card that earns the same type of points as the card they've already got. For example, Southwest Rapid Rewards® Plus Credit Card cardmembers cannot open a Southwest Rapid Rewards® Priority Credit Card unless they cancel their current Southwest card (and on a related note, will not be able to earn a Southwest bonus until 24 months after earning the previous Southwest bonus).
Also be aware that each card's bonus will be available to you again after either 24 or 48 months, depending on the card.
Citi
In recent years, Citi has created some of the best credit cards for customers looking for perks like cash back or a generous 0% intro APR.
Citi is also a major player in the travel rewards space. It co-brands a handful of travel credit cards, partnering with American Airlines. It also issues its own rewards currency, Citi ThankYou points, which you can transfer to Citi's airline and hotel partners such as JetBlue, Choice Hotels, and Turkish Airlines when you have the right cards.
Similar to Chase and Capital One, you can transfer the rewards you earn with many of its cash-back cards if you've also got a ThankYou points card that charges an annual fee.
Unfortunately, Citi credit cards are almost never crowned the best travel credit card in any genre. That's because Citi has axed nearly all travel insurance, making them the riskiest form of payment when buying airfare, rental cars, etc. Paradoxically, the only cards that offer travel insurance are not travel credit cards.
Business Insider's guide to the best Citi credit cards will help you to decide which Citi card is best for you.
Notable credit card application rules: Citi allows you to open no more than one credit card per eight days and no more than two cards per 65 days.
In many cases, Citi enforces restrictions on credit cards in the same "family." Generally speaking, you can't earn a welcome bonus on a credit card that earns the same type of travel rewards as one that you've already got until a specified amount of time has passed.
Discover
Similar to American Express, Discover is both a credit card issuer and a payment network. Just a few years ago, Discover was far behind the likes of Visa and Mastercard in terms of accepted locations, but it has since muscled its way into the competition.
Discover does not charge an annual fee for any of its credit cards. Its rewards are easy to use (you'll always get a flat 1 cent per point when redeeming for a statement credit), and some of its products have an exceptional return rate. For example, the Discover it® Cash Back earns bonus cash back on rotating bonus categories (from July 1 to September 30, 2024, earn 5% cash back at Walmart and grocery stores on up to $1,500 in purchases after enrollment, then 1%).
Discover also offers a unique welcome bonus structure with its cards that you won't find from any other issuer. Discover Cashback Match will match all the cash back you earn during your first 12 months of cardmembership — meaning the Discover it® Cash Back will earn effectively 10% with its rotating bonus categories and 2% on all other purchases.
If you don't like the idea of a complicated rewards system (despite the enormous value proposition), a Discover card may be perfect for you. Read our guide to the best Discover credit cards.
Notable credit card application rules: You can't have more than two credit cards issued by Discover at once — and if you want to be approved for the second, you must be a cardholder for at least one year.
Synchrony
Synchrony is best known for its manifold store credit cards. The bank issues well over 100 cards, in fact. Most famous are cards like Amazon's store card and the Lowe's store card, both of which provide benefits like 5% back and special financing on select purchases.
One thing to be aware of with store cards — particularly those issued by Synchrony — is that they aren't always "open loop." In other words, they can't be used just anywhere. If your card doesn't have a payment network on the front (Visa, Mastercard, American Express, etc.), you'll only be able to use the card for purchases at whatever store name is on the front.
Synchrony cards can make sense for some, but they notoriously lack welcome bonuses and meaningful benefits outside a handful of merchant-specific perks.
U.S. Bank
U.S. Bank primarily issues cash-back credit cards (and stellar ones, at that), but it flirts with travel rewards, as well. Both currencies effectively work the same: You can redeem your earnings for a flat rate.
For example, the points you earn from a card like the U.S. Bank Altitude® Reserve Visa Infinite® Card cannot be transferred to airline or hotel partners like the rewards you'll get from other banks like Chase and Amex. Instead, you can redeem them for:
- 1.5 cents each toward travel purchases via Real-Time Mobile Rewards
- 1 cent each for cash and gift cards
- 1 cent each (or slightly less) for merchandise
U.S. Bank doesn't offer complex rewards redemption options, making its cards perfect gateways into credit card rewards. It also issues a selection of secured credit cards as well as cards that offer 0% intro APR, making it a good bank for those who are trying to build (or rebuild) credit, as well as those trying to alleviate debt payments.
Wells Fargo
Wells Fargo doesn't issue many credit cards, but it still manages to cater to just about everyone. It's got cards that specialize in cash back, 0% intro APR, and even transferable points.
Most notable is the Bilt Mastercard®, which allows you to pay rent with a credit card and not be charged exorbitant service fees. The points you'll earn can be transferred to perhaps the most valuable collection of transfer partners offered by any bank; you can transfer to Hyatt, United Airlines, Turkish Airlines, and more.
Another notable thing about Wells Fargo cards is all personal cards offer generous cell phone insurance — even with no annual fee. You'll get up to $600 in coverage per claim with just a $25 deductible (limit of $1,200 in coverage per 12 months). The only requirement is that you pay your monthly phone bill with the card, and you'll automatically be covered.
Credit card application rules: Wells Fargo states that you could be denied a new credit card if you've already opened a Wells Fargo card in the last six months.
Other Credit Card Issuers
There are many, many other credit card issuers than just the main players above. From banks that cover just a few states to a credit union with less than 40 locations to virtual credit card companies that don't have a single brick-and-mortar option, the issuers seem nearly endless.
Here are the next most popular banks and credit unions to choose from.
National/regional banks
Read Business Insider's guide to the best banks.
Online banks
Read Business Insider's guide to the best online banks.
Credit unions
- Alliant Credit Union
- Bethpage Federal Credit Union
- Blue Federal Credit Union
- Connexus Credit Union
- Consumers Credit Union
- Pentagon Federal Credit Union
- Wings Credit Union
Read Business Insider's guide to the best credit unions.
FAQs
How do I choose the best credit card company for me? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.The best credit card company for you depends on your financial situation, credit score, and what you're looking for in a card (e.g., rewards, low interest rates, balance transfer options). Compare offers from multiple companies to find one that matches your needs.
Can I have credit cards from different companies? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.Yes, you can have credit cards from multiple companies. This can be beneficial for maximizing rewards and benefits, but it's important to manage them responsibly to avoid high debt and negative impacts on your credit score.
What should I do if I'm unsatisfied with my credit card company? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.If you're unsatisfied, first try resolving the issue with the company's customer service. If that doesn't work, you can file a complaint with the Consumer Financial Protection Bureau (CFPB) or consider switching to a different credit card company.
How often do credit card companies increase credit limits? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.Credit card companies may review accounts periodically (typically every 6-12 months) to determine eligibility for credit limit increases, based on factors like payment history and credit score. However, you can also request an increase manually.
Are there any credit card companies that don't charge annual fees? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.Yes, many credit card companies offer cards with no annual fees. These cards can be a good choice for budget-conscious consumers, though they may offer fewer rewards or benefits compared to premium cards with fees.
Joseph Hostetler Credit cards reporter Joseph Hostetler is a credit card expert who specializes in helpful miles and points tricks. He is also a Certified Educator in Personal Finance (CEPF).Joseph has more than six years of experience writing professionally about credit cards, previously authoring and editing for The Points Guy and Million Mile Secrets. Read more Read less Top Offers From Our Partners 
Chime® Checking Account Set up Direct Deposit and get your paycheck up to 2 days before your coworkers.** No overdraft fees. No monthly fees. A tooltip Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. **Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date. Start BankingEditorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer. Read our editorial standards.
Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.
**Enrollment required.
***Terms, conditions, and exclusions apply. Refer to your Guide to Benefits for more details. Travel Accident Insurance is not guaranteed, it depends on the level of benefits you get at application.
For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
For rates and fees of The Platinum Card® from American Express, please click here.
For rates and fees of the American Express® Gold Card, please click here.
For rates and fees of the Delta SkyMiles® Reserve American Express Card, please click here.
For rates and fees of the Blue Cash Preferred® Card from American Express, please click here.
For rewards and benefits of the Bilt Mastercard, please click here.
Watch:
ncG1vNJzZmivp6x7o8HSoqWeq6Oeu7S1w56pZ5ufonyxsdGspqeZnGKzqrrAp5qeZ5OnsqW102aamqqUqHykvsSdoK1lk5a%2FpXnCqKSpmZ6esrQ%3D