Credit Card Issuers

Barclaycard Ring ends first year with a modest profit and major goals

In Barclaycard Ring's first year on the market, the experimental low-interest credit card gained about 10,000 new customers, but failed to achieve an expected return to shareholders. Barclaycard officials posted statistics on Ring's launch to the program's official blog in June, in the form of an annual report tracking the card's performance during the first [...]

Categories: Credit Card Issuers
Credit card issuers split over social media engagement, according to J.D. Power survey

New research from a leading American consumer agency shows that Americans expect credit card issuers' social media servicing efforts to match or exceed their social media marketing programs. Researchers from J.D. Power and Associates surveyed 23,200 online consumers who have interacted with one or more social media teams from major corporations. The team's findings highlight [...]

Categories: Credit Card Issuers
Visa, MasterCard settlement won't change swipe fee structure for retailers

Visa, MasterCard, and a coalition of member banks signed a memorandum of understanding to end a seven year legal battle over credit card processing fees. The defendants will pay $6.6 billion to settle the case with retailers who claim the payment platforms and their affiliated banks used anti-competitive tactics when setting swipe fees. Under terms of [...]

Categories: Credit Card Issuers
USAA rated best credit card issuer based on weighted analysis of complaint database

As promised, the Consumer Financial Protection Bureau published its live database of credit card complaints registered with the bureau's toll free hotline and website. The raw data includes the name of the issuer, the broad topic for each complaint, and a flag indicating whether the credit card company resolved the complaint. Independent researchers have enhanced the [...]

Categories: Credit Card Issuers
Credit card offers match stock market trends, posting fewest direct mail campaigns in two years

Uncertain economic markets should take the blame for a significant drop in the number of direct mail credit card offers, according to analysts at Mintel Comperemedia. The global research company measured just 260 million new credit card offers mailed to American households. That figure represents a drop by 33 percent, compared to the same period [...]

Categories: Credit Card Issuers
USAA, AmEx, Discover top Temkin Forgiveness Ratings for credit card issuers

Balance transfer offers aren't the only reason consumers switch credit card issuers. According to a new report from the Temkin Group, Americans can hold a grudge when a bank makes a mistake, often resulting in switched accounts. The company's annual Temkin Forgiveness Ratings report ranked over 200 businesses based on whether customers would let a [...]

Categories: Other News, Credit Card Issuers, Credit Unions
US Bank trades leftover retail gift cards for credit card rewards points

Plenty of banks let their customers exchange rewards points for gift cards. U.S. Bank became one of the first banks that lets its credit card customers handle that exchange in reverse. In partnership with aftermarket gift card vendor Plastic Jungle, U.S. Bank rolled out a service that lets FlexPerks Travel Rewards Visa Signature trade in [...]

Categories: Credit Card Issuers
Barclaycard Ring MasterCard puts customers in the boardroom

A new low interest credit card soon to be launched by Barclaycard aims to make its operations transparent by including customer input in key decision-making. In a statement to reporters, Barclaycard officials announced the pending launch of the Barclaycard Ring MasterCard. Barclaycard spokesman Paul Wilmore explained that Ring cardholders would gain access to profit and loss [...]

Categories: Credit Card Issuers
Banks ramp up "plain vanilla" credit card offers

Banks have turned recent consumer lending laws into marketing highlights, according to new research from Mintel Comperemedia. Mintel's analysts say that lenders, after months of battling over elite customers with rewards credit card offers, have ramped up efforts to promote their "plain vanilla" cards with no annual fees and no bonus rewards. In a statement to [...]

Categories: Credit Card Issuers
Banks may use credit card offers to offset "Move Your Money" movement

While banking industry analysts measure the effectiveness of "Bank Transfer Day," the Credit Union National Association reports that many Americans didn't wait until Nov. 5 to move their money. A CUNA survey of 5,000 member institutions revealed that over 650,000 consumers joined credit unions between Sep. 29 and Nov. 1. The five-week figure beat the [...]

Categories: Credit Card Issuers
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