Issuer News | Credit Card Topics

Is Your Credit Card Issuer Withholding Payment Data From the Credit Bureaus?

By: John Ulzheimer, 4/25/2023

Some of the largest credit card companies in the United States have caught the attention of the Consumer Financial Protection Bureau (CFPB) due to their credit reporting practices. Some card issuers have stopped sharing (or perhaps they never shared in the first place) what the CFPB considers to be key information about credit card accounts with the consumer credit reporting agencies. Now, the federal agency is calling for the credit card giants to reverse their course. The... read more »

What Do Credit Card Issuers See When They Check Your Credit?

By: John Ulzheimer, 3/13/2023

Credit reports and credit scores are tools credit card issuers use to predict the risk of doing business with an applicant or existing cardmember. It’s standard operating procedure for credit card companies to review your credit information when applying for a new account. As an existing cardholder, your credit card company may also periodically — usually once a month — review your credit report and credit score. This is to verify your risk level hasn’t dramatically... read more »

18 Surprising Credit Card Facts & Statistics

By: Marcie Geffner, 11/28/2023

There’s no doubt about it: consumers love credit cards. They’re easy to use, convenient, and generally safer than cash. They’re also surprisingly fascinating. To give you some insights into why, we’ve compiled this list of facts and statistics you should know about the cards you love. 1. The US is Home to 4 of the 6 Largest Card Brands Four of the world's six biggest credit card brands are located in the United States. Visa holds the number two spot with 3.66... read more »

When Do Credit Card Issuers Report Late Payments to the Credit Bureaus?

By: John Ulzheimer, 11/28/2023

You are probably aware that you need to pay your bills on time if you want to earn and maintain solid credit scores. Payment history, after all, is the most important credit scoring factor in FICO’s credit scoring systems, worth 35% of your score points. But what happens if you’re only a little late with your credit card payments? Should you expect your credit score to tank if, for example, you make a payment a couple of days after the due date on your account? The... read more »

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

By: Bill Hardekopf, 12/16/2021

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. Consumers Consider as Many as Six Factors When Choosing Credit Card Most consumers look for a minimum of four different features when deciding for which credit cards they should sign up, but some consider as many as six, according to a new study. Consumers living paycheck to paycheck who struggle to pay... read more »

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

By: Bill Hardekopf, 12/9/2021

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. Will Congress Take Away Your Credit Card? How would you feel about Congress snatching away your credit card or preventing you from participating in credit card reward programs? Don't laugh. Left-wing groups in Washington are declaring that the plastic card in your wallet is the financial villain that needs to get... read more »

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

By: Bill Hardekopf, 12/2/2021

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. Credit Card Applications Rise to Pre-Pandemic Levels American consumers are applying for credit cards at pre-pandemic rates, an increase that is broad-based across age and credit score groups, according to the New York Federal Reserve. The application rate for credit cards rose throughout 2021, reaching 26.5%... read more »

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

By: Bill Hardekopf, 11/23/2021

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. Visa's Amazon Spat Shows Power is Shifting to Retailers in Fee Battle Amazon's latest spat with Visa shows big retailers, armed with a growing array of payment options, are gaining the upper hand in their power struggle with card providers. While Amazon may yet back down on the UK front, the dispute is a bad sign for... read more »

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

By: Bill Hardekopf, 11/18/2021

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. Amazon May Drop Visa as Partner on U.S. Credit Card Amazon is considering dropping Visa as a partner on its U.S. co-branded credit card after earlier confirming it would stop accepting Visa credit cards in the United Kingdom as a dispute over payments intensified. Since Britain's exit from the European... read more »

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

By: Bill Hardekopf, 11/10/2021

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. U.S. Credit Card Use Returning to Pre-Pandemic Patterns U.S. consumers are spending more and ramping up credit card balances, reversing a shift during the Covid-19 crisis, when they scaled back spending and substantially paid down debt, a Federal Reserve Bank of New York report showed on Tuesday. After rising by $17... read more »

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

By: Bill Hardekopf, 11/4/2021

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. Credit Card Interest Rates Spike to Near All-Time High, Fed Data Shows Credit cards are a flexible, widely accepted payment option allowing consumers to spread out large payments over time. But credit card interest rates have been rising steadily and recently surpassed 17% for only the second time ever, per Federal... read more »

CardRates.com Weekly Credit Card Update — October 29, 2021

By: Bill Hardekopf, 10/29/2021

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. Lenders Say Americans Are Ready to Use Their Credit Cards Again Leading credit card lenders in the US are welcoming signs that customers are poised to increase their borrowings after paying down balances during the Covid-19 pandemic. Depositors are reducing the cash cushions they built up during the crisis with the... read more »

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

By: Bill Hardekopf, 10/20/2021

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. 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, 10/14/2021

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. 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, 10/7/2021

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. 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, 9/30/2021

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. 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, 9/23/2021

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. 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, 9/16/2021

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. 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, 9/9/2021

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. 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, 9/2/2021

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. 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, 8/26/2021

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. 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, 8/12/2021

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. 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, 8/5/2021

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. 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, 7/29/2021

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 »

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