Synchrony Financial on Monday (Sept. 12) reported a rate of credit card delinquencies as a percentage of receivables of 3.1% for August, the highest level in at least a year, in a filing with the Securities and Exchange Commission. The rate applies to credit card...
The paycheck-to-paycheck pressures are showing up in the cards. Though we don’t have all the details yet, from all the issuers, there are at least some recent stats that show cardholders falling a behind on their monthly obligations. The latest example came on Monday (Sept....
Launched just two years ago as Goldman Sachs started its strategic foray into consumer banking, the Apple Card has recently earned the surprising distinction of approving applicants with less than stellar credit ratings. Some 28% of Goldman’s card customers have FICO scores below 660, according...
FinTech Mercury is launching a corporate Mastercard to help startups scale their business, with the card offering 1.5% cashback without any annual fees or personal credit checks. The new IO card offers a 30-day interest-free repayment period, according to a Monday (Sept. 12) press release,...
Visa, Mastercard and American Express have decided to add a new merchant category for firearms retailers in a win for gun control advocates, The Wall Street Journal reported Sunday (Sept. 11). The new category, pushed by Democratic lawmakers, was approved by an international entity setting...
American Express has launched a pilot of a program called Round-Up, which lets card members round up their purchases to contribute to the charities of their choosing. Beginning Thursday (Sept. 8), the program will let participants round up purchases to the nearest $1, $5 and...
First National Bank of Omaha (FNBO) has announced Bend by FNBO, a credit-card-as-a-service solution to expand its ways to let clients offer cards, a press release said. Bend by FNBO will offer an embedded model of open API services for credit cards. It will let...
India’s ICICI Bank has teamed up with the National Payments Corporation of India (NPCI) to launch a series of credit cards on local payments network RuPay. According to a Monday (Aug. 29) news release, the ICICI Bank Coral RuPay Credit Card — “Rubyx” and “Sapphiro”...
Visa and Mastercard have blamed fraud and growing competition for the increase in their cross-border fees since the U.K. left the European Union, a post on the parliament.uk website stated. In October 2021, Visa and Mastercard increased cross-border interchange fees on purchases made by UK...