American card delinquencies ticked up in June amid a downturn in charge-offs at major banks. That’s according to the latest edition of Seeking Alpha’s Credit Pulse, published Friday (July 24) and tracking monthly delinquency and charge-off rates at American Express, Synchrony, Bread Financial, Capital One,...
Capital One and Synchrony earnings results this week highlight a consumer credit market that is becoming more segmented: lenders are drawing finer distinctions within credit tiers, millions of new accounts are still being opened and card products are increasingly being matched to both a borrower’s...
Robinhood is reportedly revamping its platinum card in response to customer complaints about its perks. As the Wall Street Journal (WSJ) reported Wednesday (July 22), cardholders argued that the rewards associated with the card — which carries an $695 annual fee — were not that rewarding. “Everybody saw...
Electronics giant Samsung has teamed with Barclays to roll out its first credit card. The Samsung Galaxy Card will run on Visa’s network, with applications set to open Wednesday (July 22), according to a company announcement. Available in both virtual and physical card formats, the...
The operating assumption in card issuing is that better technology should produce better economics. Card issuers have largely won the technology-access battle. Instant issuance, mobile wallet provisioning, real-time fraud controls and personalized offers are no longer reserved for the largest banks. However, broader access has...
Robinhood Markets is weighing the sale of between $400 million and $500 million of asset-backed securities, including a bond backed by bills for its branded consumer credit cards, Bloomberg reported Monday (July 13), citing unnamed sources. The company is currently gauging investor interest in the bond, which...
Customer lifetime value has long been treated as an output metric, a way to judge whether a card portfolio performed well after the fact. Increasingly, issuers are using it as an operating discipline, measuring whether every decision improves the odds that a customer stays longer,...
Financial services platform Mercantile has joined forces with American Express and the American Bar Association (ABA). The collaboration, announced Wednesday (June 24), is designed to give legal professionals who are part of the bar association (ABA) greater access to credit solutions. The new ABA American...
Watch more: Need to Know With Galileo’s Shankar Pandravada Secured credit cards, in theory, are a tremendously useful product, particularly for financially underserved consumers. But in practice, they’ve been burdened by frictions like clunky onboarding, locked collateral accounts and a stigma that kept many consumers...