Issuer News | Credit Card Topics

CardRates.com Weekly Credit Card Update — October 21, 2021

By: Bill Hardekopf, 10/21/2021

For media inquiries on these stories and more, contact credit card expert and industry analyst Bill Hardekopf at (205) 985-9725 or billh@cardrates.com. 1. Interest In Store Credit Cards Plunges Consumer interest in store credit cards is on the wane this holiday season. Only 29% of consumers said they are likely to apply for a store credit card this holiday season compared to 44% in 2020, according to a report from LendingTree. However, consumers are still slightly more... read more »

CardRates.com Weekly Credit Card Update — October 15, 2021

By: Bill Hardekopf, 10/15/2021

For media inquiries on these stories and more, contact credit card expert and industry analyst Bill Hardekopf at (205) 985-9725 or billh@cardrates.com. 1. Credit Card Firms Are Becoming Reluctant Regulators of the Web Who should police the internet? For some time now the question has tied companies, regulators and campaigners in knots. Social networks spend billions moderating content posted on their platforms, but are still criticized either for not removing enough... read more »

CardRates.com Weekly Credit Card Update — October 8, 2021

By: Bill Hardekopf, 10/8/2021

For media inquiries on these stories and more, contact credit card expert and industry analyst Bill Hardekopf at (205) 985-9725 or billh@cardrates.com. 1. Apple Pay Fees Vex Credit Card Issuers Banks rushed to work with the Apple Pay mobile wallet when it debuted in 2014. They have some regrets. When Apple Pay launched, the tech giant got big banks including JPMorgan, Capital One and Bank of America to agree to pay fees that would allow their cardholders to pay by... read more »

CardRates.com Weekly Credit Card Update — October 1, 2021

By: Bill Hardekopf, 10/1/2021

For media inquiries on these stories and more, contact credit card expert and industry analyst Bill Hardekopf at (205) 985-9725 or billh@cardrates.com. 1. Painful Debt: How Credit Card Bills Can Hurt Your Health It’s easy to quantify the pain that high levels of debt can cause to one’s finances by either looking at the opportunity cost or the squeeze on the ability to pay day-to-day expenses. But causing pain to the actual body? According to new research, the... read more »

CardRates.com Weekly Credit Card Update — September 24, 2021

By: Bill Hardekopf, 9/24/2021

For media inquiries on these stories and more, contact credit card expert and industry analyst Bill Hardekopf at (205) 985-9725 or billh@cardrates.com. 1. The Pandemic Has Plunged Americans into Severe Credit Card Debt As the pandemic stretches into a second year, global debt has reached record highs, even surpassing the devastation of World War II. Though experts say this debt is crucial for keeping people and businesses around the world afloat, they also caution... read more »

CardRates.com Weekly Credit Card Update — September 17, 2021

By: Bill Hardekopf, 9/17/2021

For media inquiries on these stories and more, contact credit card expert and industry analyst Bill Hardekopf at (205) 985-9725 or billh@cardrates.com. 1. Amazon Is Doing It. So Is Walmart. Why Retail Loves Buy Now, Pay Later. Installment plans are back in style. PayPal last week said it was buying Japanese installment payment startup Paidy, following Square’s $29 billion deal for Afterpay. Macy’s and Bed Bath & Beyond have added the... read more »

CardRates.com Weekly Credit Card Update — September 10, 2021

By: Bill Hardekopf, 9/10/2021

For media inquiries on these stories and more, contact credit card expert and industry analyst Bill Hardekopf at (205) 985-9725 or billh@cardrates.com. 1. Americans' Average Credit Score Hits 13-Year High Despite difficult times for Americans' finances during the coronavirus pandemic, average credit scores have continued to climb to a 13-year high. According to Experian's 12th annual State of Credit report, the average Vantage score climbed from 688 in 2020 to 695... read more »

CardRates.com Weekly Credit Card Update — September 3, 2021

By: Bill Hardekopf, 9/3/2021

For media inquiries on these stories and more, contact credit card expert and industry analyst Bill Hardekopf at (205) 985-9725 or billh@cardrates.com. 1. Affirm Stock Skyrockets 40% on News Amazon to Partner with Buy Now, Pay Later Fintech Company Affirm shares jumped 40% in the after-hours session Friday after the fintech company said it has partnered with Amazon to allow a pay-over-time option at Amazon’s checkout. Select Amazon customers will have the option to... read more »

CardRates.com Weekly Credit Card Update — August 27, 2021

By: Bill Hardekopf, 8/27/2021

For media inquiries on these stories and more, contact credit card expert and industry analyst Bill Hardekopf at (205) 985-9725 or billh@cardrates.com. 1. Americans Have Less Credit Card Debt in 2021 According to TransUnion’s Q2 2021 Industry Insights Report, credit card balances have decreased by 4.1% year-over-year. Reduced spending meant that consumers were able to put more money toward paying down revolving credit balances. In fact, the average card balance... read more »

CardRates.com Weekly Credit Card Update — August 20, 2021

By: Bill Hardekopf, 8/20/2021

For media inquiries on these stories and more, contact credit card expert and industry analyst Bill Hardekopf at (205) 985-9725 or billh@cardrates.com. 1. Paying With a Credit Card? That’s Going to Cost You More small businesses, and even some larger ones, are charging shoppers a fee for credit card purchases or offering them discounts when they pay with debit cards, cash or checks. The moves are meant to offset the various fees businesses pay on credit card... read more »

CardRates.com Weekly Credit Card Update — August 13, 2021

By: Bill Hardekopf, 8/13/2021

For media inquiries on these stories and more, contact credit card expert and industry analyst Bill Hardekopf at (205) 985-9725 or billh@cardrates.com. 1. The Different Directions The “Big Three” Card Issuers are Taking to Get Customers What’s going on in the minds of credit card issuers like Chase, Citi, and American Express these days? They don’t seem to have the same vision of the future for their individual market shares. In fact, they’re besieging entirely... read more »

CardRates.com Weekly Credit Card Update — August 6, 2021

By: Bill Hardekopf, 8/6/2021

For media inquiries on these stories and more, contact credit card expert and industry analyst Bill Hardekopf at (205) 985-9725 or billh@cardrates.com. 1. Credit Card Debt Surged During Pandemic The coronavirus pandemic unequivocally placed Americans under economic and social strain. However, arguably the most impactful stress many people felt was within their finances. In fact, according to a new survey, more than half of Americans (62%) said that their credit card... read more »

CardRates.com Weekly Credit Card Update — July 30, 2021

By: Bill Hardekopf, 7/30/2021

For media inquiries on these stories and more, contact credit card expert and industry analyst Bill Hardekopf at (205) 985-9725 or billh@cardrates.com. 1. Card Companies Are Enjoying Minuscule Losses and Big Spending, But Competitive Risks Loom Credit card companies no longer have a spending problem. They’ve still got a borrowing problem. In recent months, many U.S. consumers were spending at levels similar to, or better than, what they were doing in the same period in... read more »

CardRates.com Weekly Credit Card Update — July 26, 2021

By: Bill Hardekopf, 7/26/2021

For media inquiries on these stories and more, contact credit card expert and industry analyst Bill Hardekopf at (205) 985-9725 or billh@cardrates.com. 1. FICO Score’s Hold on the Credit Market Is Slipping For decades, nearly every consumer credit decision revolved around a three-digit number — the FICO credit score. That is changing. Big lenders are moving away from FICO. Capital One and Synchrony Financial don’t use its scores for most consumer-lending decisions.... read more »

CardRates.com Weekly Credit Card Update — July 16, 2021

By: Bill Hardekopf, 7/16/2021

For media inquiries on these stories and more, contact credit card expert and industry analyst Bill Hardekopf at (205) 985-9725 or billh@cardrates.com. 1. Mastercard and Verizon Announce Partnership for 5G Contactless Payments Mastercard and Verizon announced a partnership focused on 5G contactless payments for consumers as well as small- and medium-sized businesses. They hope to have some innovations from the partnership by 2023. The collaboration... read more »

CardRates.com Weekly Credit Card Update — July 9, 2021

By: Bill Hardekopf, 7/9/2021

For media inquiries on these stories and more, contact credit card expert and industry analyst Bill Hardekopf at (205) 985-9725 or billh@cardrates.com. 1. Borrowing Is Back as Sign-Ups for Auto Loans, Credit Cards Hit Records Americans are borrowing again, in some cases at levels not seen in more than a decade. Consumer demand for auto loans and leases, general-purpose credit cards and personal loans was up 39% in April compared with the same period last year, according to Equifax.... read more »

17 Reasons to Pick Up the Phone & Call Your Credit Card Issuer

By: Erica Sandberg, 7/6/2021

As a society, many of us have become more accustomed to texting, direct messaging, and emailing, and less comfortable calling someone on the phone. Yet while electronic communication is often fine and fast, talking to a live person is the preferred option when dealing with many common credit card issues. Here are 17 times you would be wise to dial the credit card issuer's toll-free customer service number, punch through the series of recorded prompts, and have a chat with a... read more »

CardRates.com Weekly Credit Card Update — July 1, 2021

By: Bill Hardekopf, 7/1/2021

For media inquiries on these stories and more, contact credit card expert and industry analyst Bill Hardekopf at (205) 985-9725 or billh@cardrates.com. 1. House Democrats Propose Government-Run Credit Reporting System House lawmakers on Tuesday called for sweeping reforms to the credit reporting industry with some Democrats going so far as proposing a nationally run system, saying the three major bureaus are failing Americans. Three pieces of legislation were put forth for... read more »

CardRates.com Weekly Credit Card Update — June 25, 2021

By: Bill Hardekopf, 6/25/2021

For media inquiries on these stories and more, contact credit card expert and industry analyst Bill Hardekopf at (205) 985-9725 or billh@cardrates.com. 1. 65% of People Want Crypto Credit Card Rewards, but Are They a Good Idea? Cryptocurrency spent years as a niche curiosity, but it has recently hit the spotlight at full speed. And though not everyone understands crypto, most Americans want it anyway. In fact, 14% of Americans currently own crypto, and that number may double in the... read more »

CardRates.com Weekly Credit Card Update — June 18, 2021

By: Bill Hardekopf, 6/18/2021

For media inquiries on these stories and more, contact credit card expert and industry analyst Bill Hardekopf at (205) 985-9725 or billh@cardrates.com. 1. In New Credit Card Wars, Consumers Emerge as Big Winners An all-out war is about to break out among credit card issuers as they battle for the chance to finance Americans' post-pandemic splurges, experts predict. The real winners, though, will be consumers, as companies roll out competitive new cards and sweeten current offerings... read more »

CardRates.com Weekly Credit Card Update — June 11, 2021

By: Bill Hardekopf, 6/11/2021

For media inquiries on these stories and more, contact credit card expert and industry analyst Bill Hardekopf at (205) 985-9725 or billh@cardrates.com. 1. Wells Fargo Goes on the Offensive with New No-Fee, 2% Cash-Back Credit Card Wells Fargo CEO Charlie Scharf is embarking on his biggest push to expand a major business line since taking over, launching a roster of credit cards aimed at competing with popular products from larger rivals. The first volley is the Active Cash card,... read more »

CardRates.com Weekly Credit Card Update — June 4, 2021

By: Bill Hardekopf, 6/4/2021

For media inquiries on these stories and more, contact credit card expert and industry analyst Bill Hardekopf at (205) 985-9725 or billh@cardrates.com. 1. The Ugly Truth Behind Your Fancy Rewards Credit Card Credit card perks reward rich Americans to the detriment of the poor. The $200 in cash back you got using your fancy new rewards card often comes at the expense of someone who can’t afford it. Many people who use rewards cards have some idea those rewards are coming from... read more »

CardRates.com Weekly Credit Card Update — May 28, 2021

By: Bill Hardekopf, 5/28/2021

For media inquiries on these stories and more, contact credit card expert and industry analyst Bill Hardekopf at (205) 985-9725 or billh@cardrates.com. 1. Big Banks Look for Post-Pandemic Rebound of Credit Card Revenue Big U.S. banks are prepared for credit card balances to start ticking up again this year as pandemic restrictions ease and stimulus checks stop arriving, setting up the industry for a bump in one of its most profitable businesses. Lenders, including Capital One,... read more »

CardRates.com Weekly Credit Card Update — May 21, 2021

By: Bill Hardekopf, 5/21/2021

For media inquiries on these stories and more, contact credit card expert and industry analyst Bill Hardekopf at (205) 985-9725 or billh@cardrates.com. 1. PayPal Wants to Be Far More Than an Online Checkout Button PayPal is eyeing life beyond the checkout button. In the coming months, the firm is planning to debut a bevy of new services, which could include high-yield savings accounts, check-cashing services, and stock-investing capabilities. It’s all being done in the hopes of... read more »

CardRates.com Weekly Credit Card Update — May 14, 2021

By: Bill Hardekopf, 5/14/2021

For media inquiries on these stories and more, contact credit card expert and industry analyst Bill Hardekopf at (205) 985-9725 or billh@cardrates.com. 1. JPMorgan, Others Plan to Issue Credit Cards to People With No Credit Scores Some of the largest U.S. banks plan to start sharing data on customers' deposit accounts as part of a government-backed initiative to extend credit to people who have traditionally lacked opportunities to borrow. JPMorgan Chase, Wells Fargo, U.S.... read more »

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