Credit card issuer
The credit card as a concept dates to the early fifties of the last century. However in 1887 Edward Bellamy (March 26, 1850May 22, 1898) an American author with a visionary imagination in his utopian novel Looking Backward used the t term "Credit Card" eleven times in his novel and 3 times in its sequel, Equality. The novel is utopian and set in the year 2000. Basically a credit card has to be issued by somebody. The company or bank that issues credit cards is called the issuer or service provider. The issuer lends money to the consumer (or the user).
In 1950 Ralph Schneider and Frank X. McNamara were the first to bring about the concept of paying merchants using a card. The merger of Dine and Sign brought about the Diners Club and produced the first charge card. It is similar to a credit card but required the entire bill to be paid in full every month. It was followed shortly thereafter by American Express.
Presently there are nearly one and a half billion credit cards in circulation in the United States. Various companies and Banks who are termed service providers issue these cards. A few of the important card issuers are discussed below.
Capital One financial Services. This is a financial services company that issues cards under both the Visa and Master logos. It is registered on the New York stock exchange and is a Public Limited company. The company also deals with home loans, medical loans for treatment as well as consumer goods finance through its subsidiaries Capital one Bank and Capital one FSB.FSB cards have global acceptance. You can access this company info on their web site at www.capital.com
MBNA Corporation (Maryland Bank, National Association) was a bank holding company headquartered in Wilmington, Delaware. Bank of America acquired it in 2005 for 35 billion. It was the world's largest independent credit card issuer. MBNA is no longer valid and is re-named to Bank of America Card Services while still based in Delaware. For the first part of 2006, MBNA still issued credit cards under its own name associated with MasterCard, VISA, and American Express, but by the second half of 2006, all card products were re-branded as Bank of America.
Providian. This is part of Washington Mutual Card Services is a division WA-based Washington Mutual. Its a leading credit card provider to American citizens. It caters to credit cards and deposit products to customers throughout the United States.
First USA Bank
Issues credit cards under the Bank One/First USA/First Card names and on behalf of its partners. First USA Bank is not a consumer friendly service provider. The bank has a reputation for charging high interest rates poor customer service. First USA was fined $1.3 million to settle a deceptive practices case brought by 28 states. The bank had provided its customers names and account numbers to telemarketer's.
JCB International Credit Card Co:
Offering credit cards and other business products. This is an important service provider and issues cards in 17 countries including China.JCB credit cards are accepted in 167 countries worldwide.
Citi Cards This is a famous name and cards are issued worldwide. Citi Bank is one of the largest service providers worldwide.
You can apply online for Citibank platinum, college student, charge, business, and rewards MasterCard credit cards with low annual percentage and balance transfer interest rates.
Juniper Bank. This is a member of the Barclays group and issues cards with low interest rates. The bank has a number of services and offers checking and savings accounts, credit cards and a host of other services.
Orchard Bank. This bank is a leading issuer of Master cards. The best part is that it makes its credit cards available to users who are unable to get a credit card by normal means.
Cetelem :
This is a French company with several subsidiaries in Europe that issues the Aurore credit card. These cards are popular in Europe and are valid worldwide.
USA Paycard. This issuer is slightly different from others. It provides prepaid debit cards free for most employers and of little to no cost for individuals. If your employer or benefit provider offers direct deposit then you can be issued a credit card even if you dont have bank account or credit. The best part is that there are no enrollment, no activation and no monthly or annual card charges.
Offers prepaid debit cards with no credit checks or bank account requirements.
Card Member Services :
Consumer credit card services include online account management, bill pay, and more.
Direct Merchants Bank This bank is another bank with a poor service record. It charges high interest rates and its fees are even higher. It issues card under the master card logo.You may like to give this card issuer a miss.
AirPlus International is a card issuer that basically also offers business travel management services. It issues corporate cards.
EasyMoney :
Credit cards are issued from easy Group in partnership with Accucard. Easy money credit cards have features that help your individual financial needs, including interest rate, cash back rewards, and annual fee.
Chase Credit Cards :
Offers various consumer credit cards with online payment service options. This is one of the important issuers of the Credit cards. Its site is quite informative and educative.
Quicken MasterCard :
This card is easy to get.You also can download your Business and personal options directly.Air travel programs can also be accessed and your card used on line for all travel arrangements.
First Premier Bank :
If you have poor Credit, then the First Premier Bank MasterCard is the card that can suit you. This card has a low APR on purchases and is very consumer friendly. This card is accepted worldwide wherever you see the MasterCard or Visa logo.This bank specializes in credit cards that help consumers re-establish their credit history. Card issuers are an increasing breed. The above is only a small list. but as a reader you would have got a fair idea about card issuers. So make a selection after all considerations and reading their offers on the net.
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