Last month’s credit card data indicates an ongoing deterioration of credit quality. That’s according to a report Sunday (Nov. 19) by Seeking Alpha, which says a survey of last month’s card metrics shows the average card delinquency rate slightly below pre-pandemic levels, while the average...
Goldman Sachs is reportedly hoping to offload its General Motors (GM) credit card program. The move, as reported Tuesday (Nov. 7) by the Wall Street Journal (WSJ), marks the latest in a series of shifts away from consumer lending by the banking giant. Sources familiar...
Baby boomers and seniors — consumers born before 1965 — were the first generations to have access to credit cards, back to the 1960s and ‘70s. That is the reason cards took root as the predominant credit option for them, becoming part of their financial...
SBI Cards and Reliance Retail are launching a credit card on India’s RuPay payment network. The co-branded card marks Reliance’s entry into the credit card space, according to a Tuesday (Oct. 31) Reuters report on the collaboration. The report noted that the card could entice customers to rewards at Reliance Retail’s...
Financial guidance platform NerdWallet has launched its first credit card. The new NerdUp is a secured credit card that is designed to help consumers build and improve their credit responsibly, NerdWallet said in a Thursday (Oct. 26) press release emailed to PYMNTS. “NerdWallet identified a major gap...
Card issuing company Marqeta has debuted a new credit card issuing platform. The launch, announced Monday (Oct. 23), adds intuitive credit card program management tools and creates a “one-stop shop” for rolling out consumer and commercial credit programs, the company said in a news release...
Store credit cards — the closed-looped offerings tied to certain merchants — may signal tougher times ahead. The rising costs of credit and the rising tide of delinquencies point to consumers’ struggles, but for the retailers themselves, the rising tide of delinquencies must be closely...
American Express debuted an upgraded version of its Business Gold Card. The revamped card gives customers the ability to earn membership rewards in some business spending categories and enroll in benefits to earn statement credits, according to a Tuesday (Oct. 3) press release. The news...
Bread Financial Holdings is reportedly grappling with challenges as it confronts rising credit losses and uncertainty surrounding late fees. The company’s stock price fell 3.9% as of midday Monday (Oct. 2) and closed down 2% following a downgrade to sell by Goldman Sachs, highlighting the concerns...