credit cards

Amex hires Wells Fargo's Colleen Taylor to lead U.S. merchant services


American Express hired Taylor to oversee its efforts to entice more U.S. merchants to accept the firm's cards.


Credit unions' credit card balance declines mirror broader trend


The industry saw small gains in many loan categories during the second quarter, but credit cards declined. A new study from WalletHub shows the biggest quarterly drop in credit card balances in over 30 years.


Credit card firms split on fate of consumers while U.S. cuts aid


Capital One Financial is reining in credit lines to reduce its exposure while the nation’s largest card issuer, JPMorgan Chase, is rolling out a new card designed for travelers and diners.


Chase launches its first Mastercard-branded consumer credit card in 5 years


Visa and JPMorgan Chase & Co. are in the middle of a 10-year merchant services agreement that gives Chase merchants certain advantages with the expected goal of favoring Visa card volume. But it’s not an exclusive arrangement.


Capital One cuts card spending limits amid impasse in jobless aid


Some customers have complained of limits being slashed by one-third to two-thirds, eroding their ability to borrow in an emergency during a pandemic or potentially hurting their credit scores.


Ex-Bank of America employees allege ‘extreme pressure' to sell credit cards


Even as the bank’s sales practices faced intense government scrutiny following the Wells Fargo scandal, senior leaders in Oregon were fostering a culture that valued credit-card sales above all else, according to several former employees.


CFPB seeks comment on impact of credit card rules


The agency solicited input on the effects of the CARD Act regulations as part of a statutory requirement that the bureau review policies 10 years after they are implemented.


Spike in disputed payments causing headaches for card industry


Chargeback requests have surged since the start of the coronavirus pandemic, as airlines have canceled flights, performers have postponed concerts and supply chain disruptions have delayed the delivery of many goods.


Household debt falls for first time since 2014


Credit card balances declined most sharply as consumers cut back their spending due to the coronavirus pandemic and associated shutdown orders, the New York Fed said Thursday. But delinquencies also fell across all debt categories, thanks to government and lender relief efforts.


Citi’s new credit card perk gives Amazon edge in winning big orders


Citigroup plans to let credit-card customers finance big purchases on over longer periods of time — a deal that may spur sales at the e-commerce giant while boosting the bank’s interest-bearing balances.