The product, designed for wealth management customers, is the first in the U.S. to implement Mastercard's Touch Card, which helps people distinguish credit, debit and prepaid cards through a notch on the card's edge.

Balances reached nearly $1 trillion at the end of the first quarter, up 17% from a year earlier. The increase reflects higher spending by well-off consumers on travel and entertainment, as well as the pressure that lower-income households are facing from inflation and higher interest rates.

Delinquency rates in credit cards, auto and personal loans are effectively back to normal after three years of unusually strong credit performance. Industry executives say the current situation is easily manageable, but they do anticipate that key metrics will continue to worsen.

Card balances fell by 1.5% in the first quarter from the previous three months, according to data released by TransUnion. Balances remain near a record high and are up 19% from a year earlier.

The retail behemoth alleged in a lawsuit last month that Capital One fell short on customer service. But the McLean, Virginia-based bank says ending the partnership would open a path for a rival offering from a Walmart-backed fintech venture.

Discover, Capital One and other issuers began effortlessly reaping strong deposit inflows months before the banking crisis. The trend may not last much longer.

The credit card firm attracted new business in part from the consumers who were moving their funds over from traditional banks.

The card network has a new policy to determine who pays when consumers dispute certain e-commerce transactions, but many smaller sellers are unaware of new requirements and may run afoul of them.

Despite slower new-account growth, the card network had healthy overall sales, loan growth and deposit inflows in the first quarter. The performance gave credence to its ambitions to become a digital banking giant.