FREDERICK, Md. – In the wake of the merger of Bank of America and MBNA, three issuers, Bank of America, Chase and Citigroup, account for almost 60% of credit cards issued in the U.S., according to Cardweb.com, a site on the World Wide Web that tracks credit and debit card trends. Taken together, the three will control nearly $400 billion in U.S. credit card balances (not including gas and store issued cards), the site reported. Interestingly, the next three in the top six are Discover, Capital One and American Express, which control an additional $136 billion in card accounts. Taken all together, the top six issuers control 79% of the overall credit card market, the site said.
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