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Can Low Credit Card Balances Save Holiday Spending? Don’t Bet On It

PYMNTS

They have paid down their credit cards. The main one centers on the drop in credit card spend. A new report from TransUnion shows that average consumer-level credit card balances have declined during the course of the COVID-19 pandemic and now stand at $5,075 as of Q3 2020, down from $5,668 in Q3 2019.

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United Airlines, Chase Card Services Launch No-Fee Credit Card

PYMNTS

United Airlines and Chase Card Services today launched a “United Gateway” credit card that carries no annual fee and offers new users who charge $1,000 within three months of enrolling 20,000 frequent-flier miles.

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Merchant Credit Card Fee Guide 2024: How Much Does It Cost to Process Credit Cards?

Stax

With credit card transaction volume hitting over $9.5 trillion in the US in 2022, accepting card payments is no longer a question of whether to, but how to. To complete payment processing, credit card companies have to charge processing fees. Processor markup fees are also known as merchant service fees.

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How Much Do Credit Card Companies Charge Merchants?

Stax

Credit card transactions have quickly become the lifeblood of eCommerce businesses and storefronts alike. According to Capital One, global credit card transactions in 2022 reached an estimated 678 billion —an average of 1.86 However, accepting credit cards does come with a flipside; the ongoing sting of credit card fees.

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CFPB sues credit card company over excessive fees

Payments Dive

The agency says Horizon Card Services violated the Truth in Lending Act by charging fees as high as 60% of a customer’s credit limit, and all but refusing to cancel their cards.

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Crypto.com launches banking, stocks and credit card services

Finextra

Crypto.com announced today it will offer customers access to banking services from partner banks, and credit card and equities services to eligible customers through the Crypto.com family of companies – all supported by its most significant benefits experience ever, Level Up.

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NEW DATA: Better Customer Service Could Sway 3 in 10 Consumers To Switch Credit Cards

PYMNTS

One might expect that calling up customer service would also go on that list of products and services that are falling out of style. Moreover, all demographic groups are far more likely to use phone than email or chat to reach card service departments — and this method is associated with higher satisfaction and resolution rates.