ADVERTISER DISCLOSURE
AcclaimVisa.com is an independent, advertising-supported web site. AcclaimVisa.com is compensated by the credit card issuers whose offers appear on our site. This compensation can impact how and where credit products appear on our site, including, for example, the order in which they may appear within product listings. AcclaimVisa.com does not offer, review or present all available credit offers.

Credit Purchases Up, Visa Most Popular Card

[Monday, March 3rd, 2014]

Spending on credit and debit cards was up nearly 8% from 2012 to 2013, and Visa was the most popular form of payment, with nearly $2.266 trillion in purchase volume for Visa debit and credit cards combined.

The Nilson Report, a trade newsletter for the payment card industry, released its report on 2013 payments this month. Combined spending on American Express, Discover, MasterCard and Visa cards topped $4 trillion for the first time, at $4.077 trillion. Credit cards, debit cards and prepaid cards are included in the spending.

Debit card use outpaced credit cards, with Visa debit cards being the most-used payment card, followed by Visa commercial credit cards. Visa debit cards generated $1.187 trillion in purchases—up 7.3% over 2012—and Visa credit cards accounted for $1.079 trillion—up 9.9% over last year. Visa offers a wide variety of consumer credit cards, many with low APRs and 0% interest rate introductory periods. They also have the Visa Signature line of credit cards, which typically have greater value rewards and more perks than regular low-interest credit cards.

American Express credit cards also got used more in 2013 than the previous year with $633.29 billion in charges, purchase volume was up 7.8%. American Express has been the second-largest credit card brand in the United States since 2011. They were one of the first credit card brands to capitalize on the potential of social media marketing and frequently offer discounts and bonuses via Twitter, Foursquare and other social sites.

MasterCard debit card purchase volume reached $491.07 billion, while their credit card purchases totaled $560.12 billion. Both were up over 2012 totals, by 9.5% and 4.9%, respectively.

In spite of their reputation for superior customer service, Discover Card came in last place among major card issuers, with purchase volume rising 3.9% to $127.11 billion.

At the end of last year, cardholders in the United States had a total of 1.14 billion cards in their wallets. That’s the total number of credit, debit and prepaid cards in circulation as of December 31, 2013.

The Nilson Report has a circulation of over 18,000 readers in 90 countries and tracks finance industry trends as well as providing rankings, statistics and other information about the card and mobile payment industries.

Copyright © 2006-2017
AcclaimVisa.com.
All Rights Reserved

AcclaimVisa.com is an independent, advertising-supported web site. AcclaimVisa.com is compensated by the credit card issuers whose offers appear on our site. This compensation can impact how and where credit products appear on our site, including, for example, the order in which they may appear within product listings. AcclaimVisa.com does not offer, review or present all available credit offers.

All the credit card information presented without warranty and can change. To confirm the terms and conditions click the "Apply Now!" button and review the current information on a secure credit card terms page. AcclaimVisa.com can be compensated by the credit card issuers when visitors apply for a credit card through this website.

* The acclaimvisa.com webpage is a free service and an information resource for credit cards and financial products and services available to eligible United States consumers. acclaimvisa.com does not offer any warranties and is not a direct service. There are no guarantees for approval or offers when applying for a credit card. Please refer to the application if you would like more information on each credit card. When you click "Apply" for a particular credit card, please take the time to review the terms and conditions of the product/service at the issuer's website. All logos on the acclaimvisa.com website are property of their respective owners.