The credit card industry seems on the brink of crowning a new No. 1 issuer, a company whose strong faith in the Internet may reshape the way card products are marketed.

Assuming current growth patterns hold true, First USA, the credit card unit of Bank One Corp., will overtake Citigroup's Citibank this quarter as the company with the most card receivables. It may already have done so. Each bank had more than $63 billion in loans in the third quarter.

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