Co-Branded Credit Cards in the US, 10th Edition

Best Price Guarantee	Length	Publisher	Published Date	SKU
from $4,500	125 Pages	Packaged Facts	January, 2025	LA19551669

Best Price Guarantee
Price	from $4,500
Length	125 Pages
Publisher	Packaged Facts
Published Date	January, 2025
SKU	LA19551669

The Packaged Facts report, Co-Brand and Affinity Credit Cards in the U.S., 10th Edition addresses the US market for co-branded credit cards. This report highlights the recent changes to program features and benefits, issuer and partner card strategies and competitive trends. Trends in growth for the issuers and the networks as well as opportunities are examined.

Co-branded partners and programs are identified and segmented. Wins and losses are provided for the years 2019-2024. Estimates for purchase values for the top co-branded credit card programs. The report also includes analysis detailed by market segment for airline co-branded cards as well as co-branded hotel credit cards and retailer cards. There is analysis for usage, engagement and engagement ratios including demographics.

Executive Summary
- Scope of Report
- Methodology
  - Consumer Survey Methodology
  - Market Size and Forecast Methodology
- Executive Summary
  - Airline Partnerships
  - Hotel Partnerships
  - Retailer Partnerships
  - The Issuers
  - Co-Branded Credit Card Usage Trends
  - Co-Branded Credit Card Application Influencers
Overview
- Almost 170 Airline, Hotel, and Retailer Co-Branded Credit Card Programs Exist in the US
- Seven Top Co-Branded Credit Card Programs Generate $890 Billion in Payment Value
  - Table Leading US Co-Branded Credit Card Programs by Payment Value, 2022-2024 ($ billion)
- 13 Issuers Dominate the Co-Branded Credit Card Space
  - Table US Consumer Credit Card Receivables by Leading Co-Branded Credit Card Issuers, 2021-2024 ($ billion)
Airline Partnerships
- By the Numbers: Co-Branded Airline Credit Card Programs
  - 28 Card Programs
  - Mastercard and Chase Lead on Number of Partnerships
    - Table US Co-Branded Airline Credit Card Programs, by Issuer, Network, and Card Type, 2025
  - Portfolio Wins and Losses
    - Table US Co-Branded Airline Credit Card Program Changes, by Airline Brand, Issuer, and Network, 2019 vs. 2025
- Consumer Analysis: Frequent Flyers & Airline Co-Branded Card Users
  - Frequent Airline Travelers Increasingly Take to the Skies
    - Table Domestic Round-Trip Flights Taken in Last Year, by Frequency, 2021-2024 (percent of adults)
    - Table Domestic Round-Trip Business Flights Taken in Last Year, by Frequency, 2021-2024 (percent of adults)
  - Frequent Flyer Program Usage Over Time
    - Table Frequent Flyer Program Members, by Airline, 2018-2024 (percent of adults)
    - Table Last Airline Flown Domestically, by Frequent Flyer Membership, 2024 (percent of adults)
    - Table Share of Frequent Flyer Members, by Last Airline Flown Domestically, 2024 (percent of adults)
  - HH Income and Net Worth Analysis
    - Table Frequent Flyer Membership: Percentage of Members and Share of Members by HH income, 2024 (percent of adults)
    - Table Frequent Flyer Membership: Percentage of Members and Share of Members by Net Worth, 2024 (percent of adults)
    - Table Frequent Flyer Membership by Airline: Share of Members by HH income, 2024 (percent of adults)
    - Table Frequent Flyer Membership by Airline: Share of Members by Net Worth, 2024 (percent of adults)
  - Other Demographics
    - Table Frequent Flyer Program Membership: Share of Members by Brand and Demographic, 2024 (percent of adults)
- American Airlines
  - AAdvantage Loyalty Program Does Some Heavy Lifting
  - Mountains More Revenue Expected by 2026
  - Exclusive Citibank Partnership Will Help It Get There
  - Area of Emphasis: Targeting Elite Clientele
  - Area of Emphasis: Enhancing Benefits
  - AAdvantage: The Revenue Story
    - Table American Airlines AAdvantage Loyalty Program Deferred Revenue, 2018-2023 ($ billion)
    - Table American Airlines AAdvantage Loyalty Program Deferred Revenue, Earning, and Travel/Non-Travel Redemption, 2018-2023 ($ billion)
    - Table American Airlines AAdvantage Loyalty Program Revenue: Travel and Marketing Contributions, 2018-2023 ($ billion)
    - Table American Airlines AAdvantage Co-Branded Credit Card Payment Value, 2022-2024 ($ billion)
- Delta Air Lines
  - Key Insights on Strategic Initiatives
  - SkyMiles Rewards Structure Shifts to Capture Premium Customer Spending
  - SkyMiles: The Revenue Story
    - Table Delta Air Lines SkyMiles Loyalty Program Deferred Revenue, 2018-2023 ($ billion)
    - Table Delta Air Lines SkyMiles Loyalty Program Deferred Revenue, Earning, and Travel/Non-Travel Redemption, 2018-2023 ($ billion)
    - Table Delta Air Lines SkyMiles Loyalty Program Revenue (Travel and Marketing) and Operating Revenue, 2018-2023 ($ billion)
  - The Metrics: Delta Co-Branded Credit Cards
    - Table Delta Air Lines SkyMiles Co-Branded Credit Card Payment Value and Loans Outstanding, 2019-2023 ($ billion)
- United Airlines
  - United Airlines MileagePlus Program Overhaul: 2024-2025 Changes
  - Program Initiatives
  - MileagePlus: The Revenue Story
    - Table United Airlines MileagePlus Loyalty Program Deferred Revenue, 2018-2023 ($ billion)
    - Table United Airlines MileagePlus Loyalty Program Deferred Revenue, Earning, and Travel/Non-Travel Redemption, 2018-2023 ($ billion)
    - Table United Airlines MileagePlus Loyalty Program Revenue: Travel and Marketing Contributions, 2018-2023 ($ billion)
    - Table United Airlines MileagePlus Co-Branded Credit Card Payment Value, 2022-2024 ($ billion)
Hotel Partnerships
- By the Numbers: Co-Branded Hotel Credit Card Programs
  - Table US Co-Branded Hotel Credit Card Programs, by Issuer, Network, and Card Type, 2025
  - Portfolio Wins and Losses
    - Table US Co-Branded Hotel Credit Card Program Changes, by Hotel Brand, Issuer, and Network, 2019 vs. 2025
- Consumer Analysis: Hotel Loyalty Program Users
  - High-Frequency Hotel Usage on the Rise
    - Table Hotel Users, by Domestic Personal and Business Nights Stayed, 2021-2024 (percent of adults)
  - Hotel Loyalty Program Usage Over Time: Steady as She Goes
    - Table Hotel Loyalty Program Enrollment, by Program, 2024 (percent of adults)
  - HH Income and Net Worth Analysis
    - Table Hotel Rewards Program Membership: Percentage of Members and Share of Members by HH Income, 2024 (percent of adults)
    - Table Hotel Rewards Program Membership: Percentage of Members and Share of Members by Net Worth, 2024 (percent of adults)
    - Table Hotel Rewards Program Membership by Hotel Chain: Share of Members by HH income, 2024 (percent of adults)
    - Table Hotel Rewards Program Membership by Hotel Chain: Share of Members by Net Worth, 2024 (percent of adults)
  - Other Demographics
    - Table Hotel Loyalty Program Membership: Share of Members by Brand and Demographic, 2024 (percent of adults)
- Hilton
  - Hotel Partnership Trends
  - Loyalty Program Membership Trends
  - Hilton Honors Credit Cards
    - Table Hilton Honors Co-Branded Credit Card Payment Value 2019-2023 ($ billion)
- Hyatt
  - Loyalty Program and Property Portfolio Trends
  - Accolades
  - Expansion and Engagement
  - World of Hyatt Credit Cards
- IHG
  - IHG Loyalty Program: Pros and Cons
  - Card Program Adds Benefits and A Business Option
  - Improving Loyalty Program Profit
- Marriott
  - The Marriott Bonvoy Loyalty Program
  - Loyalty Program Membership Trends
  - Loyalty Program Deferred Revenue Surpasses $7 Billion
    - Table Marriott Bonvoy Loyalty Program Deferred Revenue, 2018-2023 ($ million)
    - Table Marriott Bonvoy Loyalty Program Deferred Revenue, Earning, and Redemption, 2018-2023 ($ millions)
  - Marriott Bonvoy Is the Largest Hotel Co-Branded Card Program in the World
  - Marriott Bonvoy Credit Card Program Payment Value Trends
    - Table Global Marriott Bonvoy Co-Branded Credit Card Program: Payment Value, 2019-2024 ($ billion)
Retailer Partnerships
- By the Numbers: Retailer Co-Branded Card Programs
  - 116 Brand Partnerships with 91 Parent Companies
    - Table US Retailer Co-Branded Credit Card Programs, by Segment: Brand vs. Parent Company Partnerships, 2025
- Amazon's Credit Card Program: Leveraging the Amazon Flywheel
  - Nuts and Bolts
  - Differentiators
  - Co-Branded Payment Value Approaches $100 billion
    - Table Amazon Prime Visa Co-Branded Credit Card Payment Value, 2022-2024 ($ billion)
- BJ's One Mastercard: Building the Customer Base and Fostering Loyalty
  - Nuts and Bolts
  - Tying Card Growth to Membership Tiers
  - Capital One Relationship Off to a Good Start
- The Best Buy Co-Brand Credit Card: The Single Way to Earn Points
  - Nuts and Bolts
  - The Membership Connection
  - Back to Basics
  - Card Spend Success
- The Kohl's Co-Brand Credit Card: Supplementing a Private Label Goliath
  - Strategy and Implementation
- Fintech Co-Branded Credit Card Partnerships
  - Apple Card Is a Customer Engagement Powerhouse
  - Strong Growth Catapults Apple Card into the Co-Branded Big Leagues
    - Table Apple Card Co-Branded Credit Card Payment Value and Loan Receivables, 2022-2024 ($ billion)
  - Venmo Card Cultivates Gen Z and Millennial Engagement
The Issuers
- American Express
  - American Express Co-Branded Credit Card Programs
    - Table American Express Co-Branded Credit Card Brands, by Category, Sub-Category, and Type, 2025
  - American Express Co-Branded Credit Card Payment Value Trends
    - Table American Express Global Payment Value and Credit Card Receivables: Total vs. Co-Branded Credit Card, 2021-2024 ($ billion)
    - Table American Express Global Co-Branded Credit Card Billed Business, by Card Partner, 2019-2023 ($ billion)
- Bank of America
  - Bank of America Co-Brand Card Programs
    - Table Bank of America Co-Branded Credit Card Brands, by Category, Sub-Category, Network, and Type, 2025
- Barclays
  - Barclays Co-Branded Credit Card Programs
    - Table Barclays Co-Branded Credit Card Brands, by Category, Sub-Category, and Type, 2025
- Bread Financial
  - Co-Branded Cards Account for Increasing Share of Business
    - Table Bread Financial Credit Sales: Co-Brand, Private Label, Proprietary, and Other, Q3 2019 vs. Q3 2024
  - Partner Account Diversification
    - Table Bread Financial Credit Sales, by Partner Vertical, Q3 2019 vs. Q3 2024
  - Bread Co-Branded Credit Card Programs
    - Table Bread Financial Co-Branded Credit Card Brands by Category, Sub-Category, and Network, 2025
- Capital One
  - Capital One Co-Branded Credit Card Programs
    - Table Capital One Co-Branded Credit Card Brands, by Category, Sub-Category, Network, and Type, 2025
- Citibank
  - Citi-Branded Cards vs. Citi Retail Services
  - Citi Co-Branded Credit Card Programs
    - Table Citibank Co-Branded Credit Card Brands, by Category, Sub-Category, Network, and Type, 2025
- First National Bank of Omaha
  - First National Bank of Omaha Co-Branded Credit Card Programs
    - Table First National Bank of Omaha Co-Branded Credit Card Brands, by Category, Sub-Category, and Network, 2025
- JPMorgan Chase
  - JPMorgan Chase Co-Branded Credit Card Programs
    - Table JPMorgan Chase Co-Branded Credit Card Brands, by Category, Sub-Category, Network, and Type, 2025
- Synchrony Financial
  - Synchrony Financial Co-Branded Credit Card Programs
    - Table Synchrony Financial Co-Branded Credit Card Brands, by Category, Sub-Category, Network, and Type, 2025
  - Retail Stalwarts, Digital Brands, and Health & Wellness Credit Products Outperform
    - Table Synchrony Financial Credit Product Payment Value by Sales Platform, 2021-2023 ($ billion)
  - Co-Branded Credit Card Value Growth Leads Other Credit Products
    - Table Synchrony Financial Payment Value: Co-Branded/Dual Card vs. Other Credit Products, 2019-2024 ($ billion)
    - Table Synchrony Financial Receivables: Total vs. Co-Branded/Dual Credit Card, 2021-2024 ($ billion)
- U.S. Bank
  - U.S. Bank Co-Branded Credit Card Programs
    - Table U.S. Bank Co-Branded Credit Card Brands, by Category, Sub-Category, Network, and Type, 2025
- Wells Fargo
  - Joining The Co-Brand Party
  - Wells Fargo Co-Branded Credit Card Programs
    - Table Wells Fargo Co-Branded Credit Card Brands, by Category, Sub-Category, Network, and Type, 2025
Co-Branded Credit Card Usage Trends
- Industry Context
  - Store Cards and Co-Branded Cards
  - Retailers Enhancing Financing and Loyalty Program Flexibility
  - Co-Branded Card Patterns by Type of Affiliation
    - Table Co-Branded Credit Card Usage Rates by Selected Types: Have in Own Name vs. Used in Last 30 Days, 2024 (percent of adults)
    - Table US Co-Branded Credit Card Adoption by Selected Types: Have in Own Name, 2021-2024 (percent of adults)
    - Table US Co-Branded Credit Card Adoption by Selected Types: Used in Last 30 Days, 2021-2024 (percent of adults)
    - Table US Co-Branded Credit Card Adoption by Selected Types: Share of Owners Who Used Cards in Last 30 Days, 2021-2024 (percent of adults)
  - Co-Branded Cards vs. Store Cards
    - Table US Co-Branded Credit Card and Store Credit Card Adoption: Have in Own Name vs. Used in Last 30 Days, 2021-2024 (percent of adults)
  - Demographic Segmentation
    - Table Credit Cards in Own Names by Consumer HH Income and Net Worth: Bank-Issued Credit Cards, Co-Branded Cards, and Store-Only Cards,2024 (percent of adults who are cardholders)
    - Table Credit Cards in Own Names by Consumer Age and Generation: Bank-Issued Credit Cards, Co-Branded Cards, and Store-Only Cards, 2024 (percent of adults who are cardholders)
    - Table Credit Cards in Own Names by Consumer Gender, Race, and Hispanic Origin: Bank-Issued Credit Cards, Co-Branded Cards, and Store-Only Cards, 2024 (percent of adults who are cardholders)
Co-Branded Credit Card Application Influencers
- Fraud Protection Trumps No Annual Fee as Most Important Application Influencer
  - Rewards and Discounts Remain Front and Center
    - Table Card Features or Benefits That Would "Strongly Influence" Consumer Decisions to Apply for a Co-Branded Credit Card, 2023 vs. 2024 (% of total respondents)
  - Demographics
    - Table Card Features or Benefits That Would "Strongly Influence" Consumer Decisions to Apply for a Co-Branded Credit Card, by Generation, 2024 (% of total respondents)
    - Table Card Features or Benefits That Would "Strongly Influence" Consumer Decisions to Apply for a Co-Branded Credit Card, by Household Income, 2024 (% of total respondents)
Appendix
- Terms and Definitions