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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...
...JPMorgan Chase spent about a year discussing a possible deal with Discover Financial before Capital One agreed a $35bn bid for the credit card company, as the largest US bank pursued ways to get control...
...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....
...The credit card company forecast its revenue this year would rise by low-double digit percentage, down from an earlier expectation of mid-double digits....
...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...
...My wife and I relied on our credit card insurance policies when travelling to the Middle East and North Africa to visit our family....
...(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?...
...to show it is clamping down on credit card companies charging excessive fees....
...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....
...They can also charge different prices to consumers based on which credit card they use. Credit card holders accustomed to fancy perks are in for a rude awakening....
...Having cleared £27,000 of credit card debt, the author and financial coach sat down with host Claer Barrett to share practical tips on how to start repaying debt, manage the cost of parenthood and address...
...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....
...I’m talking, of course, about credit cards points that can be exchanged for travel perks and all manner of other goodies....
...However, the share prices of the credit card companies tell you that not all card companies will be affected equally. Read more here....
...While overall loan growth was tepid, credit card debt by US consumers continued to rise, hitting $1tn for the first time last year....
...Midway through May 2023, the group signed a $200mn four-year credit facility with a group of banks....
...The credit card, however, highlights its ambitions to be more than that....
...and small banks as merchants gained the ability to steer customers to preferred credit cards....
...The merger would reduce the ranks of the top 10 US credit card companies, leaving fewer options for consumers....
...Capital One and Discover are two of the biggest credit card lenders, behind JPMorgan Chase and Citigroup....
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