Improvement in the macro economic outlook will lead to higher retail spending and greater outstanding credit card balances, a notable positive for Bank of America as the company has nearly 14% share of the U.S. debit card market and roughly 13% share of the U.S. credit card market.
To create an entire value chain, American Express segmented its credit card and lending business into three businesses: U.S. card services, international card and global commercial services, and global network and merchant services.