Most large card issuers have spent the past year playing defense, but U.S. Bancorp has continued to press its specialty form of offense: product innovation.

The Minneapolis company has been affected by the same mounting losses, regulatory restrictions and macroeconomic conditions buffeting many of its competitors. But its credit card chargeoffs are among the lowest for large issuers, and unlike many competitors that have focused the bulk of their time and money on risk-prevention, loss-mitigation and shedding assets, U.S. Bancorp has continued to sign deals, buy portfolios and unveil new offerings.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.