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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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