JPMorgan Chase is cutting the annual fee of its top-tier card while American Express is raising the fee of its own premium card. Both banks hope to win consumers' travel dollars by finding the sweet spot between cost and rewards.

The fee for the Platinum account increased 25% to $695, making it the most expensive luxury travel card.

Deserve, a credit card technology startup, raised $50 million from backers including Mastercard and Ally Financial’s strategic investment arm, its chief executive said in an interview.

Upgrade, a lending startup that counts Banco Santander SA and SVB Financial Group’s Silicon Valley Bank as investors, is seeking to triple its valuation in a fresh funding round, according to a person with knowledge of the matter.

Inventory shortfalls continue to constrain commercial lending, while the savings glut is holding back consumer borrowing, industry executives say. The good news: At some banks, pipelines are at or above pre-pandemic levels.

Teampay is using the card network's technology, which was first designed for the Apple Card, to offer virtual accounts for corporate spending.

Under the deal, the $425 billion-asset bank will become the exclusive card issuer for the home furnishings retailer, which long partnered with Alliance Data Systems.

Eight months after its debut, more than 10,000 customers have signed up for the service, which allows transgender and nonbinary consumers to use their chosen name.

Brian Doubles, who became the card issuer’s chief executive in April, also expressed optimism that pent-up consumer demand will spur renewed spending this year.

The bank has its eye on younger cardholders who are ready to spend more heavily now that pandemic restrictions have eased.

Amazon.com is fielding bids to replace JPMorgan Chase as the issuer on its popular co-brand credit card as a fresh wave of competition for new card customers emerges.

Global Payments' TSYS subsidiary and BM Technologies will offer the program, which allows transgender and nonbinary consumers to use their preferred name on payment cards.

The product, which will compete against Citi’s Double Cash card, is the first step in CEO Charlie Scharf’s revamp of a business segment that has long trailed top competitors.

The card brand now offers tuition to Paul Quinn College, one of 107 historically Black colleges and universities in the U.S.

Users of the Goldman Sachs-issued card found themselves unable to make payments or view account details.

The store-branded credit card issuer is expanding from three sales divisions to five, a move that CEO Brian Doubles says will help by “aligning our organization for faster growth and execution.”

The private-label card issuer says that, as merchants reopen, now is the time to realize the benefits of its 2020 acquisition of the buy now/pay later company Bread.

Citi Retail Services has renewed its longtime card-issuing relationship with Tennessee-based Tractor Supply Co., which saw record sales during the pandemic as consumers expanded their backyard menageries.

The feature prints users' preferred name on credit and debit cards, and is live in the U.S. with Citigroup, BMO Harris and Superbia Credit Union.

American Express has created a path for PayPal to immediately accept digital versions of consumer credit cards as soon as the cards are approved.