J.P. Morgan Chase led the American credit card industry in 2010 with an increase of $12.6 billion in commercial credit card volume, according a recently released Nilson Report.
The report, which provides detailed statistics and news on credit cards, debit cards and the payment systems industry, showed that J.P. Morgan Chase had over 16 million commercial credit card accounts and 2.7 million small business credit card accounts in 2010, according to FoxBusiness.com.
No other banks showed nearly as much growth as J.P. Morgan Chase, however, growth was noted among other U.S. banks.
Bank of America saw an increase of $7.76 billion and ranked second to J.P. Morgan Chase in both commercial and business credit cards, according to FoxBusiness.com. Capital One ranked third for small business cards and saw a total increase of $2.21 billion.
Citigroup and Wells Fargo made their marks as well, with Citigroup showing a $1.99 billion increase and Well Fargo showing a $4.99 billion increase.
The report also showed that U.S. Bank had a $4.17 billion increase, Comerica had a $3.97 billion increase, Capital One had a $2.21 billion increase and PNC had a $1.70 billion increase, according to FoxBusiness.com.
Almost every credit card on the Nilson report experienced growth in 2010 over 2009.