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...The top US consumer finance watchdog has raised doubts about megamergers in the credit card industry, just as Capital One attempts to close its $35.3bn takeover of card issuer Discover Financial Services...
...US credit card lender by loans....
...Rising credit card debt in the US has become a political issue heading into this year’s presidential election....
...The new measure will slash typical credit card late fees from an average of $32 to $8 in most cases....
...Credit card delinquencies are rising in the US. There is a proposed cap on how much card issuers can charge for late payments....
...My wife and I relied on our credit card insurance policies when travelling to the Middle East and North Africa to visit our family....
...Credit card complaints in the UK have hit an all-time high as consumers rail against what they see as excessively high credit limits and interest rates....
...Americans held more than $1.1tn on their credit cards at the end of 2023, an all-time high....
...Total household debt in the US climbed to another record high at the end of 2023, according to the Federal Reserve’s New York branch, with the continued rise in consumers struggling to pay down credit card...
...Readers in the US are the most richly rewarded when it comes to points deals — there are countless offers, and it’s much more common for consumers to have a fistful of different credit cards....
...Americans have gorged on billions of dollars of credit card debt over the past three years....
...(Home Economics) — The NYPD is posting by the seat of its pants (Hell Gate) — Anatomy of a credit card rewards program (Bits About Money) — Our tools shape our selves (Aeon) — What is space for?...
...The lion’s share of that fee — about $1.80 — goes to the bank that issued the credit card that is being used....
...The credit card, however, highlights its ambitions to be more than that....
...Credit card delinquencies by consumers at large US banks have risen to their highest level since before the Covid-19 pandemic, underscoring the impact from rising interest rates and lower household savings...
...The jump comes as signs of a worsening credit environment mount. Data last week showed credit card delinquencies at large US banks are at their highest level since before the Covid-19 pandemic....
...However, the share prices of the credit card companies tell you that not all card companies will be affected equally. Read more here....
...Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music. Read a transcript of this episode on FT.com...
...While overall loan growth was tepid, credit card debt by US consumers continued to rise, hitting $1tn for the first time last year....
...Capital One and Discover are two of the biggest credit card lenders, behind JPMorgan Chase and Citigroup....
...With the bills rolling in after Christmas, this week’s episode is devoted to helping listeners tackle their credit card debts on a practical and emotional level - no matter how big or small they might be...
...Credit card processing fees tend to be higher in the US than in the EU, where they are capped....
...The merger would reduce the ranks of the top 10 US credit card companies, leaving fewer options for consumers....
...India’s central bank has banned Kotak Mahindra Bank from issuing credit cards or taking on new digital and mobile banking customers, marking the regulator’s latest crackdown on the country’s fast-growing...
...Blackstone’s credit and insurance division will buy the US credit card receivables from Barclays for an undisclosed sum, and the bank will continue to service the accounts for a fee....
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