JPMorgan Chase JPMorgan Chase revealed its newest rewards card, the Chase Sapphire Reserve, last summer.  It came complete with a $ 450 annual fee and a bevy of benefits, including an unheard-of 100,000-point sign-up bonus worth about $ 1,500 in travel credit. Suffice to say, the card was hugely popular. It even made the front cover […]

TransferWise TransferWise founders Kristo Kaarmann, left, and Taavet Hinrikus. TransferWise is assessing whether to launch a card linked to customer accounts, according to multiple sources. Four sources within the foreign exchange and payments industry told BI that TransferWise is looking at the possibility of launching a card after a flood of new entrants into the market […]

REUTERS/ Benoit Tessier Subprime lending is making a comeback. TransUnion’s Q2 2016 Industry Insights Report, released on Tuesday August 16, found that 10 million new consumers have entered the credit card marketplace in the last year, bringing the overall total number of consumers with a balance on at least one credit card to 133 million. Subprime borrowers, […]

A general view is seen of the headquarters of Indonesia’s tax office in Jakarta June 28, 2016. Reuters/Iqro Rinaldi Indonesia’s finance ministry has delayed a regulation requiring all credit card providers to submit customer data to the tax office until the end of its tax amnesty program, a tax spokesman told Reuters. The finance ministry […]

REUTERS/Phil Noble Credit card giant Capital One set up an internal “Failure University” when it first opened up in the early 1990s to help staff learn from mistakes. Chris Newkirk, boss of the company’s international businesses, told BI: “If you’re truly trying to innovate, you’re going to make mistakes. As a company, you can’t create […]

Business Insider / Will Wei Regulators are probing Russell Simmons’ RushCard. Federal regulators are probing the technical failures at RushCard, the prepaid debit card startup founded by hip-hop mogul Russell Simmons. A statement from the Consumer Financial Protection Bureau on Friday revealed the regulator is looking into why, for more than a week, some consumers who rely on […]