Credit card delinquencies rise even as credit limits are extended
Payments Dive
AUGUST 6, 2024
The two developments stem from greater use of credit cards, and could have implications for some businesses, says a Bain & Company analyst.
Credit Limit Related Topics 
How Credit Limit Increase Optimization Drives Portfolio Profit
FICO
FEBRUARY 7, 2022
Credit limit management is regarded as a key driver to profitable portfolios. Credit limit increase optimization (CLI) is a powerful tool to achieve portfolio goals. Credit limit increase optimization (CLI) is a powerful tool to achieve portfolio goals. The Power of FICO Credit Limit Increase Optimization.
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1 In 4 US Cardholders Saw Credit Limit Cut Over The Last Month
PYMNTS
MAY 4, 2020
Nearly 50 million credit card customers in the U.S. said they have had their credit limit slashed or their card closed in the past month as lenders move to minimize their risk amid the COVID-19 shutdown, a new study revealed.
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Ant Group Curbs Credit Limits Of Some Users Of Virtual Credit Cards
PYMNTS
DECEMBER 23, 2020
In the wake of the collapse of its initial public offering of stock (IPO), China’s Ant Group is scaling back the borrowing limits for some of the young users of Huabei. That arm of the financial technology (FinTech) giant offers a virtual credit card.
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Capital One starting to raise credit limits in hunt for growth
Payments Source
FEBRUARY 24, 2021
Capital One Financial has begun to lift borrowing limits for certain customers as it seeks to restart growth in its sprawling credit card business.
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CFPB sues credit card company over excessive fees
Payments Dive
SEPTEMBER 16, 2024
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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ViaBill partners Nordigen to double the credit limit for BNPL consumers
The Paypers
SEPTEMBER 8, 2021
ViaBill has doubled the credit limit for new Buy Now, Pay Later (BNPL) customers from EUR 270 to EUR 540.
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Fintech startup Slice launches new card with credit limit of USD 27
The Paypers
SEPTEMBER 8, 2021
India-based fintech startup Slice has announced working on the launch of a USD 27 card as the default credit limit.
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Norway sets credit limits for booming consumer loan market
Payments Source
FEBRUARY 12, 2019
Norway stepped in to limit the growth of high interest rate consumer loans and credit card debt to protect the economy from ballooning household leverage amid rising interest rates.
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Today In Payments Around The World: China Lengthens Deferrals For Small And Micro-Businesses; Ant Group Scales Back Credit Limits Of Some Virtual Card Users
PYMNTS
DECEMBER 23, 2020
Ant Group Curbs Credit Limits Of Some Users Of Virtual Credit Cards. Ant Group of China is scaling back the borrowing limits for some of Huabei's young customers. That arm of the FinTech company provides a virtual credit card.
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How Connected Payments Reduce Merchant Risk
Basis Theory
JUNE 25, 2024
Any electronic payment comes with inherent risk: the customer might be using a fraudulent card, forgotten they’ve overspent their credit limit, or end up firing up a chargeback in an instance of friendly fraud.
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DEUNA and Hands In Partner to Revolutionize the Online Checkout Experience
Fintech Finance
SEPTEMBER 24, 2024
By incorporating Hands In’s technology, DEUNA merchants can now offer customers the ability to split payments across multiple cards, overcoming barriers such as credit limits and insufficient funds. This partnership will enable DEUNA to integrate Hands In’s Multi Card Payments and Group Payments into their checkout services.
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What is a Temporary Hold on a Credit Card?
EBizCharge
NOVEMBER 22, 2024
What is a credit card hold? A credit card hold is when a portion of your credit limit is reserved for a potential transaction. Credit card holds are enforced by merchants, payment processors, credit card networks, and card-issuing banks. If this hold is lifted, it will free up your credit limit again.
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DEUNA Reduces Failed Transaction Rate With Hands In Split Payment Integration
The Fintech Times
SEPTEMBER 25, 2024
Credit limits and insufficient funds on a singular payment method will no longer be barriers to purchase goods. Given the prevalent low credit limits in this region, our split payment solutions will provide significant benefits to DEUNA merchants and their customers.”
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Nova Credit exits Hong Kong
Finextra
JULY 31, 2024
Licensed Money Lenders Association Limited (collectively as the Industry Associations) that one of the consumer credit reference agencies under Credit Data Smart, namely Nova Credit Limited (Nova) had decided to cease its operations and exit Credit Data Smart due to its own circumstances.
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multifi extends financial support to small businesses
The Paypers
JULY 30, 2024
multifi, a company offering financial solutions for SMBs, has revealed that it is broadening its credit options to include smaller credit limits.
Capital on Tap Introduces Revolutionary Preloading Feature to Extend SME Spending Power
Fintech Finance
JANUARY 15, 2024
This first-of-its-kind functionality allows customers to extend their spending capabilities beyond their existing credit limit. Preloading works by allowing customers to top up their Capital on Tap credit balance with their own funds. All spending shows on one monthly statement for simplified accounting and cash flow management.
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Goldman CEO Denies Claims Of Apple Card Credit Biases
PYMNTS
NOVEMBER 21, 2019
David Solomon, the CEO of Goldman Sachs , is denying claims that gender bias is apparent in the algorithm it uses to determine credit limits for applicants, according to a report by Bloomberg. There’s no gender bias in our process for extending credit,” Solomon said. He said he plans to address the issue fully.
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JULO’s Smartphone Insurance Powered by Qoala Hits 200K Mark in 3 Months
Fintech News
MAY 29, 2024
JULO, which has been in the fintech industry for seven years, aims to promote financial inclusion in Indonesia through its virtual credit card. This product provides a credit limit for both cash and non-cash transactions, such as e-wallet top-ups, e-commerce payments, and utility bill payments.
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Goldman Chief Denies Claims Of Gender Bias With Apple Card
PYMNTS
NOVEMBER 21, 2019
David Solomon, the CEO of Goldman Sachs , is denying claims that gender bias is apparent in the algorithm it uses to determine credit limits for applicants, according to a report by Bloomberg. There’s no gender bias in our process for extending credit,” Solomon said. He said he plans to address the issue fully.
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New Tool by TotallyMoney Aims to Address Credit Card Application Challenges
The Fintech Times
FEBRUARY 14, 2024
Notably, popular credit card offers, such as those from Barclaycard and HSBC, may advertise one APR and offer duration but could provide different terms upon application. Additionally, only 40 per cent of consumers are aware that they might receive a different APR or credit limit than advertised.
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US Household Debt Hits All-Time High
PYMNTS
MAY 5, 2020
However, credit card balances have dropped compared to before the coronavirus pandemic. That decrease in credit card balances comes even as the credit limits have been increased by $34 billion, leaving $3 trillion available in credit card lines.
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GXS Bank Rolls Out Credit Card with Flat Fees Instead of Compounding Interest
Fintech News
OCTOBER 7, 2024
This card is designed for consumers who may struggle to access credit products due to being new to credit or having limited credit history, such as new professionals, gig workers, and entrepreneurs, offering a credit limit of S$500.
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Addressing Portfolio Risk in Economic Uncertainty: Part 3 (2022)
FICO
DECEMBER 8, 2022
For revolving credit portfolios in particular, proper attention must be directed toward maintaining asset and revenue growth. By constraining credit exposure across more sensitive customer segments, the delinquency impacts associated with unexpected economic downturns can be mitigated.
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Brex and Navan Join Forces to Launch Business Travel and Payments Solution
Finovate
OCTOBER 15, 2024
By combining Brex’s multi-faceted financial infrastructure with Navan’s travel management system, companies benefit from higher credit limits, local currency options, and automated reconciliation, making it easier to scale travel programs globally while saving time and reducing costs.
Carbon acquires Vella Finance
The Paypers
FEBRUARY 15, 2024
Nigeria-based Carbon has completed the acquisition of fintech Vella Finance through its parent company One Credit Limited.
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GoTo Expands TikTok Partnership with ‘Buy Now, Pay Later’ Service
Fintech News
JULY 29, 2024
GoPay Later users will have access to a simplified credit process that includes a data verification step using facial recognition to activate GoPay Later on ShopTokopedia. Indonesia has over 97 million unbanked adults who lack access to secure financial services.
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Trust Bank Upgrades Loan Service With 60-Second Approvals, Flexi Repayments
Fintech News
JANUARY 17, 2024
Customers can select their repayment dates, choose loan tenures in months, and adjust credit limits via the app. Hasan Khan Hasan Khan, Head of Credit Card & Lending at Trust said, “Flexible finance is something that makes a big difference to our customers.
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X1 Card Raises $12 Million In Funding Round Led By Spark Capital
PYMNTS
JANUARY 14, 2021
Co-founded by Rao and fellow Twitter alum Siddharth Batra, the startup calls its product the “smartest credit card ever built.” The company said it “reimagines the credit card,” from how it looks to how credit limits are assigned. .
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Card Companies Cut Credit Lines As Customers Skip Payments
PYMNTS
APRIL 23, 2020
The Bloomberg report notes that “lowering credit limits during a period of economic uncertainty can inflict lasting damage to client relationships.”. This is a big change of heart for these companies, and reflects the growing economic crisis.
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Dynamics adds direct-to-bank commands to Wallet Card
Payments Source
FEBRUARY 26, 2018
Banks and cardholders will be able to verify purchases, increase credit limit, add cards immediately, provide feedback to retailers, receive on-demand coupons, or upgrade card benefits.
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X1's income-based credit card gets ready for launch
The Paypers
JULY 20, 2022
US-based fintech X1 has set to roll out its income-based credit card to the public, with a reportedly 5x higher credit limit than traditional card providers.
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Kasheesh Introduces Multi Use Card: Split Payments Across Multiple Cards for Flexibility, Convenience, and Credit Optimization
Fintech Finance
JULY 25, 2024
In the coming months, Kasheesh will also roll out proprietary AI technology that will allow for smart utilization across credit limits and maximizing cash back rewards. The Multi Use Card is now available to all Kasheesh customers any place where Mastercard debit cards are accepted in the U.S.
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Charge Cards vs. Credit Cards: Which is Right for Your Business?
EBizCharge
JULY 10, 2024
Business credit cards have a defined credit limit, restricting the maximum balance that can be carried. Limits are set by the credit card issuer based on factors like credit history and business revenue. This cap also influences the credit utilization ratio, a critical component in credit scoring.
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alt.bank Migrates Card Operations to Pismo
Fintech Finance
JULY 25, 2024
” novücard is the first card in Brazil to offer a dynamic credit limit that automatically increases month by month as bills are paid on time and in full. . “On Pismo’s platform, we selected the microservices that made sense for our operation, and we didn’t have to wait in line for developments, as we did before.
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Pleo Eyes Expansion as HSBC Grants €40million Debt Financing Facility to Fintech Unicorn
The Fintech Times
MAY 3, 2024
European spend management platform Pleo has secured a €40million debt financing facility from HSBC Innovation Banking UK , the specialist financial partner for the innovation economy, enabling Pleo to offer higher credit limits to even more customers, providing greater flexibility in financial options available to them.
Apple’s Wozniak Accuses Apple Card Of Discrimination
PYMNTS
NOVEMBER 11, 2019
Apple Co-founder Steve Wozniak said Apple gave him a credit limit 10 times higher than they gave his wife after they both applied for an Apple Card, which is a credit card the tech giant recently released with the help of Goldman Sachs, according to a report by CNN. Apple launched the Apple Card in August.
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Goldman To Offer Shared Apple Cards For Families
PYMNTS
NOVEMBER 13, 2019
Goldman Sachs, in response to criticism that its algorithm for setting credit limits varies wildly between men and women, even if they are husband and wife (and the wife has a better credit score), said on Wednesday (Nov. He said he was given a credit limit ten times that of what she was given.
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Credit Card Limit Optimization: Akbank Wins with FICO Analytics
FICO
JUNE 21, 2022
Leading Turkish retail bank wins FICO ® Decisions Award for AI, machine learning & optimization using FICO decision optimization technology for credit limits. However, credit loss is also affected by the assigned limits. Therefore, limit assignment is an area that we believed that would benefit from optimization.”.
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Turning Commercial Card Credit Lines Into SMB Cash Flow Lifelines
PYMNTS
JULY 10, 2020
When you talk about relevance, the fact still remains that there is a credit limit available on the company card product — it’s just not being used,” Razdan noted. In addition to heightened visibility and access to reconciliation data, corporate cards connect businesses to a valuable line of credit.
Chinese banks face slower loan growth
The Paypers
JANUARY 6, 2022
Chinese banks have rushed to meet the state’s annual credit limit by buying low-risk financial products rather than issuing loans.
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NY Fed: Credit Applications, Acceptances Plunge During Pandemic
PYMNTS
DECEMBER 21, 2020
21) from its latest Survey of Consumer Expectations (SCE) Credit Access Survey , which showed most credit applications and acceptance rates falling sharply after February this year. The largest declines were from credit card and credit limit requests, with auto loans in second place.
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Finance Factory Debuts Automated Credit Review Platform
PYMNTS
JANUARY 3, 2021
New rules were put into place to boost income verification, lower available credit on new cards and target customers with higher credit limits. The pandemic's rapid arrival left many households and businesses on uncertain ground financially, and big lenders quickly set about making revisions to their lending processes.
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Monzo Looks to Google Cloud to Utilise and Safeguard Customer Data
The Fintech Times
JULY 30, 2024
For example, it uses them to help protect customers from fraudsters, and across various borrowing products and contexts, which are key drivers of lending decisions, from accepting credit applications to setting credit limits and interest rates.
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