JP Morgan Chase 2009 Annual Report Download - page 42

Download and view the complete annual report

Please find page 42 of the 2009 JP Morgan Chase annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 260

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196
  • 197
  • 198
  • 199
  • 200
  • 201
  • 202
  • 203
  • 204
  • 205
  • 206
  • 207
  • 208
  • 209
  • 210
  • 211
  • 212
  • 213
  • 214
  • 215
  • 216
  • 217
  • 218
  • 219
  • 220
  • 221
  • 222
  • 223
  • 224
  • 225
  • 226
  • 227
  • 228
  • 229
  • 230
  • 231
  • 232
  • 233
  • 234
  • 235
  • 236
  • 237
  • 238
  • 239
  • 240
  • 241
  • 242
  • 243
  • 244
  • 245
  • 246
  • 247
  • 248
  • 249
  • 250
  • 251
  • 252
  • 253
  • 254
  • 255
  • 256
  • 257
  • 258
  • 259
  • 260

40
Card Services
CardServicesisoneofthe
nation’s largest credit card
issuers, with more than
145millioncreditcardsin
circulationandover$163
billion in managed loans.
Customers used Chase cards
tomeetmorethan$328
billion of their spending
needsin2009.
Chase continues to innovate
despite a very dicult busi-
ness environment, launching
new products and services,
such as BlueprintSM,Ultimate
RewardsSM,ChaseSapphireSM
and InkSM from Chase, and
earning a market leadership
position in building loyalty
and rewards programs.
Through its merchant
acquiring business, Chase
PaymentechSolutions,
Chase is one of the leading
processors of credit card
payments.
2009 HIGHLIGHTS AND ACCOMPLISHMENTS
• Added10.2millionnewVisa,MasterCard
and private label credit card accounts.
• LaunchedBlueprintSM, an innovative feature
that allows customers to have more control
of their spending and borrowing. BlueprintSM
is designed to help customers pay down
balances, manage everyday spending and
pay o major purchases.
• Investedinactivities—suchasthelaunch
ofUltimateRewardsSM, a new rewards
platform for Chase’s proprietary credit
cards — designed to attract new customers
and further engage current cardmembers.
• IntroducedChaseSapphireSM, a new rewards
product designed for auent cardholders.
• LaunchedInkSM from Chase, a new product
suite of cards for small business owners.
• Successfullycompletedtheconversionofthe
Washington Mutual credit card portfolio to the
Chase platform.
• Continuedimprovementsinriskmanagement,
customer satisfaction, and systems and
infrastructure.
• Processed18billiontransactionsthrough
ChasePaymentechSolutions.
We deliver products and services that meet both the spending
andborrowingneedsofourmorethan50millioncustomersinthe
U.S.Inadditiontooeringindustry-leadingproductsthroughthe
Chase brand, we are one of the largest issuers of co-brand credit
cards, partnering with many of the world’s most prominent brands.
End-of-period outstandings market share
of general purpose credit cards*
14
16
18
20%
2005 2006 2007 2008 2009
20.7%20.4%
19.7%
20.2%
19.6%
Sales volume market share
of general purpose credit cards*
14
15
16%
15.1%
15.3%
15.6%
16.5%
15.2%
2005 2006 2007 2008 2009
* Source: Earnings releases; internal reporting, excluding
the Washington Mutual and private label portfolios