There are thousands of banks and credit unions that issue credit cards.
“There are thousands of banks and credit unions that issue credit cards.”
Lot’s of issuers, but it’s Visa, Mastercard, or Amex managing all those cards.
This merger is an attempt to turn Discover into a real player again.
“There are thousands of banks and credit unions that issue credit cards.”
You didn’t finish that statement, so let me do it for you.
“There are thousands of banks and credit unions that issue credit cards...from one of a handful of credit card companies.”
Fewer than you might think. Many of them have branded cards that are actually issued by a larger institution. That's why if you phone the call center you may hear "Card Services" instead of "Small Town Bank". Although with modern technology, the computer can ask for your card number and then flag the call for a more personal greeting.