Credit Card News Everyone Should Know About
Over the years, Americans have taken a liking to credit cards. Some people have a good relationship with their credit card, while others do not. Recent news has made it much easier for consumers to utilize their cards. In the past, it was essential for users of credit cards to provide a signature. This is slowly beginning to fade out. Certain companies, including Amex, Discover, and Mastercard, have begun phasing out the need for a signature when verifying credit card transactions. Now, it will be up to merchants across the United States and Canada to determine whether or not to require a signature.
In a blog post on Mastercard’s website, the company revealed that research concluded people believed it would be easier to get through checkouts without the signature requirement. Financial and identity theft experts agree that it makes sense too. According to CO-OP Financial Services fraud specialist, John Buzzard, consumers have been demanding smoother and faster payments. He believes that eliminating the signature will make that happen. The purchasing process will become much more streamlined. Therefore, consumers using credit cards will be happy to know that their signature may not be required for much longer.
In other credit card news, Chase has launched a brand-new business card. The Ink Business Unlimited Card is designed for businesses which need money fast. The card does not have an annual fee. It is believed offered alongside the Ink Business Cash Card and the Ink Business Preferred Card. The Unlimited Card is being described as a cash back card. Those that sign up will receive a $500 sign-up bonus. They just need to spend $3,000 on purchases within the first 3 months.
Consumers with poor credit should consider visiting the Better Credit Blog to see how they can take steps to improve their credit. Users of this card will receive a cash bonus in the form of Ultimate Rewards points. Each point is worth one cent. In reality, it seems that Chase has basically transformed their Chase Freedom Unlimited Card into a card for businesses. That will definitely be a good thing for business owners throughout the country. The card provides them with a way to keep their personal and business expenses separate. It can also help keep business charges off of their personal credit report.
In other news, it has been announced that Apple, Uber , and Ikea are launching branded credit cards with the hopes of luring in millennials. While the cards seem like a good idea, it is essential to understand that there is a high APR. Plus, the perks associated with these cards may be negated by carrying a monthly balance. Apple’s card has been released in a partnership with Goldman Sachs. While the cards might not be a good deal for consumers, it does show a major opportunity for credit cards.
Ikea’s card doesn’t have an annual fee. However, it does have a very high annual interest rate. Consumers should be aware of the risks before getting a branded credit card from any company.