Credit Card Statistics and Usage
Visa has the most credit cards in circulation, about 838 million. American Express has the highest purchase volume at $14,480 per cardholder annually. Best worldwide credit cards are Visa or Mastercard with no foreign transaction fee.
Visa, Mastercard, and American Express credit cards are widely accepted in the USA. Payment methods differ from the UK. Insert-and-sign is more common than chip-and-PIN.
Recommended Credit Cards
Citi offers many credit cards including rewards, balance transfers, and low interest. Features are high rewards rates, redemption options, and customer service.
The Caxton Prepaid Dollar Currency Card is the best pre-paid card for the USA. It offers free transactions and withdrawals internationally. You can load up to 15 currencies.
One of the most widely used cards is the Chase Sapphire Preferred. It offers a 100,000-point bonus after spending $4,000 in three months. You earn double points on dining and travel.
The U.S. Bank Visa Platinum Card has no annual fee. You can earn a 0% APR for 20 billing cycles. It allows you to choose your payment schedule. It also offers fraud protection.
OpenSky Secured Visa doesn’t require a credit check. The annual fee is $35 to help rebuild your credit. The minimum deposit is $20. Approval rate is 85%. Credit line can increase without additional deposit after 6 months.
Credit Cards for Beginners and Credit Building
Rewards or cash back credit cards are best first-time cards. They have no annual fees and offer an introductory bonus after a certain spending. The X1 Credit Card allows users to create virtual cards adding security to online purchases. Its limit is based on income and spending behavior ensuring flexibility.
A student credit card can establish credit as you learn financial responsibility. The best have no annual fees and report monthly to bureaus.
With a starting limit of £250, the Chrome Credit Card from Vanquis Bank is a first credit card deal. It has a mobile app spending oversight helpful for beginners. Its APR is under 30%.
Card Networks and Identification
American Express cards start with 34 or 37. Visa cards start with 4. Mastercards start with 5. Credit card numbers identify the network.
Leading Credit Card Companies
What are the 4 biggest credit cards?
Visa, Mastercard, American Express and Discover dominate the credit card industry. Chase is arguably the top credit card issuer in the U.S., both in terms of purchase volume and card volume.
Chase holds the largest share of the market in purchases. Visa credit cards can be used at 44 million merchant locations in more than 200 countries and territories. Mastercard credit cards are accepted at 37 million merchant locations in over 210 countries and territories.