Tag

Credit Cards

All articles tagged with #credit cards

business6 days ago•12 min saved

United Airlines refines MileagePlus rules to boost cardholder benefits

United Airlines is overhauling its MileagePlus loyalty program to reward co-branded cardholders, offering at least 10% off award flights booked with miles (rising to at least 15% for Premier elites with a co-branded card), while cardholders will earn double miles per dollar on flights. Basic-economy earning will be restricted, and starting April 2, travelers on the cheapest fares will need a co-branded card to earn miles. The changes reflect a broader industry shift to tie perks and earnings to credit-card relationships, as airlines seek to monetize loyalty, lock in high-spending travelers, and push back against softer fares. Aimed at rewarding cardholders over budget flyers, the move aligns United with rivals like Delta and American.

via Chicago Tribune|

#airline-industry #business #credit-cards

travel6 days ago•5 min saved

United reshapes MileagePlus to reward cardholders and elites while cutting non-card miles

United Airlines is overhauling its MileagePlus program to heavily favor cobranded cardholders and elite status. Earning rates will be reduced for non-cardholders and for basic-economy bookings, while cardholders (and those with status) will earn more miles per dollar and receive discounts on award flights (at least 10%, rising to 15%+ for Premier status). The changes, effective for tickets purchased on or after April 2, mark a significant shift toward rewarding loyalty members over casual fliers.

via The Points Guy|

#basic-economy #credit-cards #loyalty-program

economy10 days ago•11 min saved

Retiree Struggles With $40K Credit Card Debt Amid Sky-High Rates

A 73-year-old retiree, Susan Cannon, carries about $39,440 in credit-card debt across 19 cards with interest rates up to 34.99%, a situation worsened by the pandemic and ongoing inflation that forces reliance on cards for essentials; advocates push for caps on credit-card rates as relief, while banks warn such caps could reduce access to credit.

via Business Insider|

#credit-cards #debt #economy

credit-cards24 days ago•18 min saved

Bilt Extends Rollover Window, Keeps Rent Day Double Points Through 2027

Bilt has pushed back the deadline for current cardholders to roll over to its 2.0 card lineup—from Jan 30 to Feb 1 at 11:59 p.m. PT—after rollout hiccups. It will also extend double Rent Day points for all 2.0 cards through Jan 1, 2027 (up to 1,000 points), with earnings varying by card (Blue 2x on everyday purchases; Obsidian 6x dining/groceries, 4x travel, 2x; Palladium 4x on everyday purchases). Note that Bilt Cash and housing points aren’t doubled. The moves aim to reduce transition friction and rebuild trust, though Rent Day promos may vary month to month.

via Upgraded Points|

#bilt #bilt-20 #credit-cards

business1 month ago•9 min saved

Dimon warns Trump’s credit-card cap could trigger a credit crunch and economic slowdown

JPMorgan Chase CEO Jamie Dimon warned at Davos that President Trump’s plan to cap credit-card interest at 10% for a year would be an economic disaster, potentially stripping credit from up to 80% of Americans and dampening consumer spending; his stance was echoed by JPMorgan CFO Jeremy Barnum and other bankers, as Trump pushes the policy amid a $5 billion lawsuit accusing JPMorgan of de-banking him.

via Daily Mail|

#business #credit-cards #interest-rate-cap

business1 month ago•1 min saved

Capital One to buy Brex for $5.15 billion in a 50/50 cash-and-stock deal

Capital One announced a $5.15 billion acquisition of Brex, paying half in cash and half in stock to accelerate its payments and spend-management platform; the move follows its 2023 acquisition of Discover Financial, and shares dipped a few percent on the news.

via CNBC|

#brex #business #capital-one

business1 month ago•2 min saved

Dimon Warns Trump Credit Card Cap Could Spark Widespread Economic Pain

JPMorgan CEO Jamie Dimon warned at Davos that President Trump's proposed one-year 10% cap on credit card interest would be an 'economic disaster,' potentially cutting credit for up to 80% of Americans and harming consumers and local businesses, though banks would have to adapt.

via Business Insider|

#business #credit-cards #davos

business1 month ago•23 min saved

Dimon warns Trump’s 10% credit-card cap could trigger economic disaster

JPMorgan Chase CEO Jamie Dimon warned at Davos that President Trump’s proposal for a 10% cap on credit-card interest would compel banks to curb credit lines for many Americans, potentially depressing consumer borrowing and the broader economy. He estimated the move could strip credit from a large share of the population, and said JPMorgan would prepare a thorough analysis for the government as other banks voiced concerns about the policy’s effects. Democrats back the cap, while lenders warn it could slow spending and harm growth.

via New York Post|

#business #credit-cards #interest-rates

business1 month ago•2 min saved

Dimon warns Trump's 10% credit-card cap would choke consumer credit

JPMorgan Chase CEO Jamie Dimon called Trump's proposal to cap credit card interest at 10% an 'economic disaster,' saying it would dramatically restrict credit for about 80% of Americans and harm restaurants, retailers, travel firms and schools; the plan lacks a clear enforcement path and has drawn pushback from banking groups, even as Trump promotes it on Truth Social.

via BBC|

#business #credit-cards #interest-rate-cap

business1 month ago•4 min saved

Trump's 10% credit-card cap deadline tests banks on compliance

With the Jan. 20 deadline arriving, banks largely kept credit-card APRs at current levels and pushed back on missing policy details for a 10% cap. There is no federal law enforcing such a cap, and enforcement would likely require Congress or a clear executive action. Experts warn lenders could curb access for many borrowers, especially those with weaker credit, even as some issuers promote 0% intro APR periods and fintechs like Bilt roll out cards at the cap. Proponents say the cap could save consumers about $100 billion annually if enacted, but major policy and enforcement questions remain unresolved.

via CBS News|

#banking-industry #business #card-issuers

business1 month ago•16 min saved

Banks Left Guessing on Trump's Credit Card Rate Cap as Deadline Nears

As President Trump's deadline for a cap on credit card interest rates approaches, banks say they have many questions and few answers about how the cap would be implemented and its potential effects on lending.

via AP News|

#banks #business #credit-cards

politics1 month ago•32 min saved

Scaramucci bags Trump’s credit-card cap as a hard-left pivot sparked by texts with Mamdani

Former White House communications director Anthony Scaramucci says Trump’s proposal to cap credit-card interest at 10% is a hard-left populist move, more aligned with Democratic policy than GOP orthodoxy, though it would require congressional approval. He ties the stance to Trump’s reported text exchanges with New York City mayor Zohran Mamdani and notes bankers’ objections, while colleagues debate the GOP’s identity amid broader consumer debt strain.

via Fortune|

#anthony-scaramucci #credit-cards #donald-trump

business1 month ago•2 min saved

Hassett pitches voluntary 'Trump cards' to widen credit access as rate-cap debate rages

White House adviser Kevin Hassett floated banks voluntarily offering credit cards to underserved Americans without new legislation as Trump pushes a 10% rate cap; industry officials say no talks have occurred yet, and some banks may even close accounts rather than offer lower rates, signaling a shift toward voluntary, targeted solutions.

via CNBC|

#banks #business #credit-access

business1 month ago•444 min saved

Trump’s rate-cap push tests Wall Street’s grip on credit

President Trump’s proposal for a one-year 10% cap on credit card interest rates aims to ease affordability but would likely restrain lenders’ ability to extend credit and may cut rewards programs, a move Wall Street banks oppose as potentially dampening consumer spending. Supporters say the cap could save Americans billions annually, but lawmakers face an uphill path to enactment and its net impact on affordability and growth remains uncertain.

via CNN|

#affordability #business #credit-cards

business1 month ago•3 min saved

Krugman urges reviving CFPB as key to Trump affordability push

Nobel laureate Paul Krugman argues reviving the Obama-era Consumer Financial Protection Bureau would more effectively lower Americans’ credit costs than Trump’s proposed credit-card rate cap, potentially with little to no new legislation; he cautions that a cap could reduce credit access, while analysts remain divided on overall economic impact.

via Business Insider|

#affordability #business #cfpb