Credit Card News

• American Express OPEN business credit cards now help scan and track expense receipts
  Posted on - May 15, 2013

  American Express business credit card holders can now shrink the amount of time they spend on expense reports, thanks to the company's new ReceiptMatch service. This online tool from American Express OPEN helps small business owners and their employees manage expenses from the road or from the office by matching receipts to credit card statements.  Read More

• Stay-at-home spouses regain access to credit card offers after CFPB rule change
  Posted on - May 8, 2013

  Stay-at-home spouses no longer have to skirt federal rules when completing credit card applications, thanks to a new ruling from the Consumer Financial Protection Bureau. In a formal filing to the Federal Register, the CFPB clarified its position on whether spouses and partners without independent sources of income can reasonably expect to access joint savings and other funds. Under the amended rule, a non-working spouse can again state their total household income instead of just their personal income when applying for a new credit card.  Read More

• Chase Ultimate Rewards teams with Virgin America Flying Club
  Posted on - May 1, 2013

  Selected Chase credit card holders gained even greater access to transatlantic travel this month, with the announcement that Ultimate Rewards members can now transfer points to Virgin Atlantic's Flying Club program. In a statement to reporters, Chase officials confirmed that accountholders with Chase Sapphire Preferred, Ink Plus, and Ink Bold credit cards can now exchange a block of 1,000 Ultimate Rewards points for 1,000 Flying Club Miles.  Read More

• Bluebird prepaid debit card angles for free checking dominance with FDIC insurance and check writing features
  Posted on - April 24, 2013

  American Express' foray into the prepaid debit card market looks more like a traditional checking account than ever, thanks to a new round of product enhancements announced this month. Bluebird, the debit card AmEx launched in partnership with big box retailer Walmart last fall, now offers FDIC insurance for deposits of up to $100,000. According to company officials, the coverage represents just one of the changes that American Express made to help serve unbanked and underbanked consumers.  Read More

• MasterCard planning two-pronged attack on PayPal, with digital wallet and transaction fees due this year
  Posted on - April 17, 2013

  MasterCard and Visa stepped up their rivalry with PayPal this month, with expansions of their own digital wallet initiatives and the threat of raising fees for third-party merchant processors. According to published news reports, the moves come as PayPal has ventured into point-of-sale transactions at physical checkout counters while offering customers lines of credit through its BillMeLater subsidiary.  Read More

• Studies show credit card defaults falling along with monthly balances
  Posted on - April 10, 2013

  American consumers managed their credit cards more effectively in February, according to the latest report from the S&P/Experian Consumer Credit Default Indices. The national default rate on bank cards fell to 3.37 percent, down 4 basis points from the previous month and down a full percentage point from the same period a year earlier.  Read More

• Credit card issuers split over social media engagement, according to J.D. Power survey
  Posted on - April 1, 2013

  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 opportunities for banks to strengthen their online customer engagement without putting consumers' personal information at risk.  Read More

• Visa and MasterCard announce smartphone payments alliances at Mobile World Congress
  Posted on - March 25, 2013

  Visa and MasterCard both announced new initiatives in February designed to speed user adoption of smartphones with contactless credit card capabilities. Visa officials released details of technology alliances with two major vendors that can help bridge the gap between consumers and retailers, while MasterCard unveiled the results of its analysis of consumer demand for Near Field Communication (NFC) payment technology among social media users.  Read More