Bruised by recent public relations gaffes, the buy now/pay later pioneer is forging ahead with a plan to complement its installment loans with a physical Visa card.

The nation’s six largest credit card companies are facing questions from the Consumer Financial Protection Bureau over their alleged failure to report customer payment data on a regular basis. The agency says that the industry’s practices can hurt consumers’ ability to qualify for cheaper loans.

Strong spending trends, combined with a reduction in card repayment rates, contributed to 17% loan growth last month. The data suggests that rising fears of a recession aren’t yet changing consumers’ behavior.

The credit card provider is one of only a few fintechs around the world to have female CTO.

Star Alliance — the largest of the three global airline groups — is planning to offer a co-branded credit card that will allow cardholders to redeem points across all 26 members.

Deserve, a credit card technology startup, said it secured a $250 million credit facility from banks led by Goldman Sachs Group. 

Twenty companies have joined the “Visa Ready” list of suppliers offering streamlined connections to installment loans online and at the point of sale.

On Dec. 31, 2021. Dollars in thousands.

On Dec. 31, 2021. Dollars in thousands.

Analysts were expecting Capital One’s marketing spending to slow significantly after it surged to nearly $1 billion at the end of the year.

Bank of America said it will make all of its plastic credit and debit cards from recycled material beginning next year. 

Bread Financial — formerly Alliance Data — offers its first general-purpose Amex credit card to expand consumer finance options following a couple of tumultuous years.

Vanguard Group will give some American Express credit card customers access to financial advice, a business the fund manager is working to build up.

The newest version of the Mastercard gives users the most cash back for checking out with their PayPal accounts instead of for spending in specific categories.

Citigroup agreed to sell its consumer banking operations in Bahrain to Ahli United Bank BSC as part of the lender’s continued push to simplify.

The renewal of the e-commerce giant's cobranded card cements an alliance between two giants of their industries — just as both companies are pushing ahead with products such as buy now/pay later loans that put pressure on traditional credit cards.

The Consumer Financial Protection Bureau said it expects credit card companies to increase fees — often around $30 — charged when customer miss a payment. The higher prices are allowed under rules that authorize inflation adjustments.

Wells Fargo will start letting customers earn points and miles on their rent payments as the banking giant deepens its push into credit cards. 

Nearly a quarter of respondents in a recent Credit Karma survey said that their total debt increased after using “buy now, pay later” services, which allow users to pay off purchases in installments over a few weeks.

The credit card company said it will open a new office in the city and hire hundreds of product managers and engineers.