Issuer News | Credit Card Topics

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 »

CardRates.com Weekly Credit Card Update — May 7, 2021

By: Bill Hardekopf, 5/7/2021

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. How Credit Cards Affect Our Brains—and Our Spending Research on credit card spending has tended toward the explanation that delaying payment removes a barrier to purchases in shoppers’ minds. A recent study found evidence of another kind of trigger. Differences found in brain activity between shoppers planning to use a... read more »

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

By: Bill Hardekopf, 4/30/2021

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. Retailers Sue Federal Reserve Over Handling of Debit Card Fees Two lobbying associations representing merchants in North Dakota sued the Federal Reserve to win a reduction in the fees they pay to banks each time a consumer swipes a debit card. The North Dakota Retail Association and the North Dakota Petroleum Marketers Association... read more »

Can My Card Issuer Change the Terms of My Account?

By: John Ulzheimer, 4/27/2021

In the United States, some 220 million consumers have a credit report with one or more of the credit reporting agencies. Of those 220 million, around 170 million consumers have one or more credit card accounts, according to the Consumer Financial Protection Bureau. These common financial tools can make your life easier in many ways: portable capacity, iron-clad fraud protection, rewards programs, credit building capabilities, the list of benefits just seems to go on and on. When... read more »

CardRates.com Weekly Credit Card Update — April 23, 2021

By: Bill Hardekopf, 4/23/2021

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. Facial Recognition Could Soon Let You Pay for All Your Mobile Purchases Using facial recognition for payment authentication is set to transform the world of e-commerce by 2025. A report from Juniper Research claims the use of such software is set to rise 120% from just 671 million in 2020, with software-based facial recognition... read more »

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

By: Bill Hardekopf, 4/16/2021

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 Rewrites Rules for Banks Backing Pornography Sellers Mastercard is updating the requirements it sets for banks that process payments for sellers of adult content. The banks will now have to ensure that sellers require “clear, unambiguous and documented consent” in adult content. The firms will also be required to... read more »

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

By: Bill Hardekopf, 4/9/2021

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. Instacart and DoorDash Plan to Launch Their Own Credit Cards Two of the biggest winners in the pandemic delivery boom are looking to launch their own credit cards. Grocery-delivery service Instacart has chosen JPMorgan Chase to issue a credit card that will reward frequent users. DoorDash, which specializes in delivering... read more »

CardRates.com Weekly Credit Card Update — April 2, 2021

By: Bill Hardekopf, 4/2/2021

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. Bill Payments Jump 30% as Americans Use $1,400 Stimulus Checks to Cover Household Expenses When stimulus payments hit bank accounts earlier this month, many Americans spent at least a portion of that money to pay their bills. There was a 30% month-over-month increase in the number of payments made to pay household bills from March... read more »

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

By: Bill Hardekopf, 3/26/2021

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. Visa Faces Antitrust Investigation Over Debit Card Practices The Justice Department is investigating whether Visa is engaging in anticompetitive practices in the debit card market, a probe that casts a cloud over a core part of its business. The department’s antitrust division has been gathering information and asking whether... read more »

90 Fast Facts About The 10 Biggest Card Issuers

By: Marcie Geffner, 3/22/2021

How much do you know about your credit card companies? Maybe not much beyond the type of card you have and the benefits you get with it. Well, guess what? There's a lot more. These global financial giants have wide-reaching business interests, partnerships with other corporations, special offers for their customers, numerous types of cards on offer -- and one even has its own museum. And, by the way, if you're job-hunting, most of these companies are hiring and have careers... read more »

CardRates.com Weekly Credit Card Update — March 19, 2021

By: Bill Hardekopf, 3/19/2021

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. Visa, Mastercard Delay Credit Card Swipe Fee Increases Visa and Mastercard are postponing planned credit card fee increases that were set to kick in this year after the plans drew criticism from lawmakers. Citing the continuing effects of the coronavirus pandemic on businesses, Visa and Mastercard said they will hold off on... read more »

CardRates.com Weekly Credit Card Update — March 12, 2021

By: Bill Hardekopf, 3/12/2021

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 Borrowing Falls to Lowest Level in 4 Years Borrowing by Americans fell in January for the first time in five months, as the use of credit cards fell to the lowest level in four years, offsetting gains in auto loans and student loans. The Federal Reserve reported consumer borrowing fell by $1.3 billion in January, the... read more »

CardRates.com Weekly Credit Card Update — March 5, 2021

By: Bill Hardekopf, 3/5/2021

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. Samsung and Mastercard Are Teaming Up on a Biometric Credit Card Samsung and Mastercard are officially teaming up on a credit card with a built-in fingerprint scanner, Samsung announced on Thursday. These so-called “biometric cards” will come baked in with “several key discrete chips” from Samsung’s side, and are... read more »

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