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National Issuers |
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National Issuers are a small group of banks that are responsible for issuing most of the VISA and MasterCard credit cards. The current group of National Issuers include First USA, MBNA America and Bank of America.
Most of the National Issuers are headquartered in Delaware and South Dakota because those states do not impose any maximum limits on credit card rates that consumers can be charged.
Although legal, the existence of National Issuers creates the opportunity for back room deals to be made that may not be in the best interest of the card holders.
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Credit Card Definitions > N - Z > National Issuers
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