Hints and tips:
...In 2023, cardholders paid $157bn in card fees and interest, which was the most on record and a 50 per cent jump from what they paid three years earlier....
...Retailers can see only what customers purchased at their stores; Chase has a bird’s-eye view of its cardholders’ complete spending habits....
...Of this, Visa or Mastercard, which operate the networks that connect cardholders with banks and merchants, collect perhaps 20 cents....
...Despite high interest rates and inflation, Amex cardholders have not slowed down. US consumer billed business — a measure of spending volume — rose 9 per cent year-on-year during the third quarter....
...He wanted to keep everyone on the payroll, keep an eye out for acquisition opportunities and spend $1bn on new kinds of rewards for cardholders who were stuck at home....
...A drop in credit card spending is raising concerns about the financial health of the US consumer and the outlook for holiday sales as cardholders face record-high interest charges....
...“Cardholders and slimline wallets are increasing in popularity, with a notable rise in searches,” confirms Daniel Todd, buying director for Mr Porter....
...They in turn use the money to fund perks for cardholders, including cash back and airline miles. Smaller networks can offer merchants lower fees. But lower fees mean lower profits for banks....
...But such policies must confront the opposition from the industry and sophisticated cardholders....
...Wiid Design, from R8,900 (£431.50) In four shapes and several colours. wiiddesign.co.za Side table by Paola Navone for Gervasoni, £458.52 A sleek design doubling as a footstool. shop.mohd.it Noode cardholder...
...Amex will need to make sure it does not get carried away in the fight for cardholders if it hopes to boost its share price....
...“Britain’s 14.5mn interest-paying cardholders [are] losing millions, if not billions, of pounds a year, at a time when their finances are already crippled by the cost of living crisis,” said Gavin Shuker...
...Prada leather cardholder, £560 Morgan wears Tod’s leather coat, POA. The Row coated linen hood, POA. Moncler sunglasses, £270. Rains nylon backpack, £81....
...Cardholders have continued to spend big despite concerns over soaring inflation and rising risks of a recession....
...A cardholder’s haven in midtown Manhattan Those in possession of American Express’s invitation-only Centurion card know the privileges of membership are many, from hotel room upgrades to the oodles of points...
...They often use the money to fund perks for cardholders, including cash back, points or airline miles. Smaller networks can offer merchants lower fees. But lower fees mean reduced profits for banks....
...Russian cardholders of Visa, Mastercard and Amex can still make domestic purchases via the country’s homegrown card payment system, Mir....
...In a downturn, this means it has little exposure to the credit risks from cardholders who miss payments. But it also wins big when consumers spend more....
...But they can also easily blow those gains on marketing and rewards for cardholders. Investors who have been piling in on credit card stocks should curb their own enthusiasm....
...Those cardholders charged 48 per cent more on their cards than they did last year, according to an investor presentation that broke out spending by age for the first time....
...Free coffee for loyalty card holders was stopped during the pandemic and has not reappeared, while this week the store stopped offering free newspapers to cardholders spending £10 or more....
...Visa said it was “very disappointed that Amazon is threatening to restrict consumer choice”, adding it would “continue to work toward a resolution, so our cardholders can use their preferred Visa credit...
...An increase in cardholders in emerging markets indicates a “shift from cash”, says Philip Benton, financial services senior analyst at Omdia....
...The data cover a sample of UK cardholders....
International Edition