Top 10 credit card issuers

Interested in discovering the top 10 credit card issuers? The problem is there really is no such thing. It may be possible to list the top ten by size - starting with mega-giant Visa - but this tells the you, the consumer, nothing about what are credit cards best deals for YOU.

The truth is, there is no such thing as a "top 10 credit card" because eveyone has different needs. However, there are 6 principles of smart credit card use that represent universal, classic wisdom about how to use cards.

To win the credit card wars and be the master of your credit cards instead of their slave, forget about the top 10 ten credit card issuers and follow the 6 Golden Rules of Credit:

1. The best card = the cheapest card, and this is always the card with the lowest interest rate. This is especially powerful if you use low fixed rate credit cards so you always know exactly where you stand. This is why independent industry experts consistently award "Best Card in America" status to the low fixed rate Pulaski Bank credt card.

2. Let me say it again: the best card = the cheapest card. There is nothing cheaper than a 0% APR in the world of credit. Substantial savings can be made if you get a 0% APR through a credit card balance transfer deal.

3. One of the reasons the credit card industry is facing tougher regulation is because of the abuse of fees. Sky high fees means that a card which officially has a low APR can actually cost you 1000% APR or more if you get slugged with fees. Discover the facts about the best no fee credit cards.

4. Biggest does NOT mean best. New players such as Chase and Discover have really shaken things up with more consumer centered cards with innovative and competitive features. Check out Chase credit cards online and the latest Discover credit card offer if you are wondering how these new entrants to the "top 10 credit card issuers" can help you.

5. These days everyone is talking about rewards cards. Usually rewards cards come with higher interest rates and fees which means that you end up paying more for the card and lose the benefit of any so-called "rewards". Also, some rewards cards encourage you to spend money on things you don't need to get more stuff you don't need, and you spend money you would not usually spend just chasing the next rewards threshhold. PLEASE - do NOT fall into this trap. Use a gas rewards card instead of a Starbucks rewards card so that you get rewards points for money you would spend on necessities and use your points to be rewarded with another valuable necessity - 5% or 10% off your gas. Another smart choice is a rewards program that is highly leveraged, and fits your lifestyle. For example, if you travel regularly it is hard to beat the American Express Delta credit card. On the other hand, if you spend mainly on business purchases such as office supplies and gas, it is hard to beat Discover business credit cards for quickly earning useful, business related rewards on money you would be spending anyway.

6. The Internet has changed the world of credit forever. You are no longer at the mercy of your local bank manager (if such an individual even exists anymore!) If you need a card soon and want to compare the best available deals without wasting time schelping around banks and finance companies, unleash the power of the Internet. Let your fingers do the walking as you comparison shop these 30 second approval credit cards.

REMEMBER: the best card is the card that is best suited to your needs AND that costs you the least amount of mony in interest and fees. This will be different for everyone as people have different credit management styles and budgets, and will be offered different deals by each of the top 10 credit card issuers, depending on individual credit scores.

If you still want to see the list, the top 10 credit card issuers based on size from 2006-2007 were:

1. Bank of America 2. JPMorgan Chase 3. Citigroup 4. American Express 5. Capital One 6. Discover Card 7. HSBC 8. Wash. Mutual 9. Wells Fargo 10. US Bancorp.

In terms of card type, Visa leads market share:

1. Visa - 54 percent 2. MasterCard – 29 percent 3. American Express – 13 percent 4. Discover Card – 4 percent. See more at top 10 credit card issuers.

"The day I got smart about credit cards was the day I admitted I was no high roller. I junked my so-called prestige rewards card for a gas rewards card, and did a 0% APR balance transfer to get rid of expensive debt on my other two cards. Now I get relief at the gas pump, points for buying goceries, and have breathing space wth some interest-free money so I can pay everything off at last." Christine Powell

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