Credit Card Issuers Finding New Ways to Attract Consumers

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If you are like me, you have probably been overwhelmed with advertisements about the new products and services that some credit card issuers are using to gain cardholders. By all means this is not a bad thing. It just shows that credit card issuers are now starting to move more to understanding what an average cardholder wants when they are choosing a credit card that is right for them.

 

So what product and services are some credit card issuers offering consumers? Two of the bigger ones come from Chase and Bank of America. Chase now offers a new billing platform that they call "BluePrint", which allows cardholders to decide what expenses they wish to be paid off in full each month. For any purchases that are not paid off monthly, Chase will not calculate what monthly payments need to be made in order to have the item completely paid. Bank of America has come up with a different approach to gain consumers by way of the BankAmericard Basic Visa card. With this card, cardholders will now pay a fixed rate on all purchases, balance transfers and cash advances. In addition to the fixed rate there will not be any fee for going over any credit limits.

 

Credit card experts state that issuers are clearly trying to improve their image after months of defending themselves for raising interest rates and cutting credit lines. I myself agree that this is a start, but we will have to see what credit card issuers decide to do in 2010 when the CARD Act is slated to begin.