The credit industry has spent decades competing for something consumers were never actually optimizing for. Top of wallet. Issuers built elaborate rewards architectures to win it. Travel points. Cash back ladders. Category bonuses. Limited time offers designed to nudge one card ahead of another in...
Consumer credit growth slowed in January but remained firmly positive, extending a trend that has been in place for nearly a year. In a nutshell, households continue to rely on credit to support spending. And as consumers wield theit cards in full force, the battle...
Small to medium-sized businesses (SMBs) are telling credit card issuers something they need to hear: Rewards don’t seem to be working. Or at least, they’re not very effective at enticing more SMB owners and operators to move their operational spending to business cards. It’s a...
Capital One has started originating some of its credit card accounts on the Discover Network, about 10 months after finalizing its acquisition of the network. A guide to card benefits issued by the company mentions Venture, VentureOne, Savor, SavorOne, Quicksilver and QuicksilverOne cards on the Discover Network, with...
Merchant surcharges are in the news as retailers, large and small, look for extra revenue and consumers rail against their existence. “Over the past few months, it feels like almost every place I eat at is adding a [3% to] 4% fee just for paying...
Users of the Rakuten Card Lite app can now get questions about their credit card statements answered by an artificial intelligence agent. The new AI agent can summarize monthly spend amounts in chronological order, show selected statements within a designated period, and show estimated spending...
The Trump Administration’s proposed 10% cap on credit card interest rates would harm access to credit as well as consumer spending in several sectors of the economy, Citi’s head of U.S. personal banking and incoming chief financial officer said Wednesday (Feb. 11). Speaking at the Bank...
Consumers who pay the most for their credit cards turn out to be the ones least likely to ignore them. Just 3.9% of premium cardholders report rarely or never using their high-fee plastic, making them the most loyal segment in the entire credit card market,...
After almost four years, Wells Fargo’s relationship with Bilt is winding down. However, that hasn’t stopped customers of the credit rewards provider who closed their accounts with the bank to nonetheless receive credit cards, Bloomberg News reported Saturday (Feb. 7), the same day the partnership...