蘑菇AV

The news: Booking.com launched the Genius Rewards Visa Signature co-brand credit card for Booking.com account holders. Our take: Booking.com鈥檚 credit card offering should appeal to millennial and Gen Z consumers who are eager to travel and aren鈥檛 tethered to a specific airline鈥檚 or hotel franchise鈥檚 loyalty program.

The news: Revolving consumer credit growth has been negative for two months, per Federal Reserve Board data. Annualized revolving credit growth declined 3.5% in May and 1% in June. A year ago, annualized revolving credit growth stood at 6.15% in May and -0.92% in June. Our take: In the face of uncertainty, consumers are wary of spending unless they feel incentivized to change their behavior, especially as tariff-related pressures increase.

As card demand contracts and consumers pay down debt, banks may be sidelining spend-ready customers before stagflation takes hold.

The news: Crypto exchange Gemini launched an XRP edition of the Gemini credit card in collaboration with Ripple, per a press release. Cardholders will receive XRP as a reward for everyday spend. Our take: We forecast the amount of US crypto payment users remains low, at 1.3% of the population. However, the share of people who use crypto at all is more than seven times as large鈥攕uggesting Gemini鈥檚 new card could attract a larger base than cards designed around using crypto at checkout.

The news: BMO launched the BMO Escape Credit Card, a Mastercard credit card geared for travelers, per a press release. The Escape Credit Card will pack a $150 annual fee. New signees are eligible to earn up to 45,000 points after spending $5,000 within the first three months of their account opening.

The news: Southwest Airlines made sweeping changes to its Chase co-branded credit cards, per a press release. Our take: Southwest cardholders are essentially earning back classic Southwest perks stripped from regular travelers. The airline likely could use the gains from higher fees on its credit cards: the budget airline sector stands to struggle as lower income Americans tighten their purse strings for personal travel鈥攁nd Southwest earned 13% of its revenue from its co-brand cards Q3 2024.

The news: New account openings were down 5% across Wells Fargo, Citi, Bank of America, and American Express during Q2 2025, per The Wall Street Journal. Our take: Issuers are going to chase opportunities to increase their payment volume, which explains targeted efforts to boost luxury travel and dining rewards. But looking long-term, banks need to think strategically about loosening their credit guidelines.

The news: Credit card delinquencies have sunk to their lowest levels in two years, within striking distance of pre-pandemic levels, per data from VantageScore鈥檚 Credit Gauge. Our take: Fewer issuers are tightening their credit card lending standards, but those looking to gain sign ups face troubled waters鈥攃onsumer demand for credit cards fell in April by the most since the early days of the pandemic, per the Federal Reserve鈥檚 Senior Loan Officer Survey.

The news: Middle-income credit cardholders who are satisfied with their card are more likely to use buy now, pay later (BNPL) products than all other BNPL users, per a YouGov survey. 48% of satisfied US credit cardholders who used BNPL in the last month reported being middle-income, versus 39% of all BNPL users. BNPL users who were satisfied with their credit card were also more likely to be higher income than all BNPL users, at 10% to 8%. Our take: Issuers of credit cards should note that even their happiest customers desire the flexibility of interest-free installment plans. Credit card companies can get ahead by marketing their card-linked installment plans to their cardholder bases and capture the BNPL spend that could have been lost to a fintech.

The news: Serious delinquency rates held steady YoY, while credit card volume growth continued to slow, per a report from the Federal Reserve Bank of New York. Our take: As middle-class educated professionals are slapped with resumed student loan payments, many will falter in the face of reaccelerating inflation and a weakening job market鈥攅specially if faced with possible wage garnishment.

The news: Cardholders who pay an annual fee report higher satisfaction with their financial product than those carrying no-fee cards, per J.D. Power鈥檚 US Credit Card Customer Satisfaction Study. Our take: Chasing too quickly after the most premium cardholders risks disenchanting young, upwardly mobile professionals in the millennial and Gen Z cohorts. If these elite cards want cardholders who can grow across their financial lifetimes with their products, they need to avoid hollowing out the middle between their elite and entry-level cards.

The news: JPMorgan Chase and Coinbase partnered to offer Chase's customers new ways to access crypto. This fall, customers will be able to link Coinbase directly to their bank accounts, buy crypto with Chase credit cards, and convert rewards points to USDC, per a press release. Why this matters: This partnership is a big step toward bridging the gap between traditional finance and crypto. By letting customers use their credit cards to buy crypto or redeem their Chase Ultimate Rewards points for USDC, the companies could accelerate crypto adoption. It鈥檚 also another salvo from JPMorgan against data aggregators and open banking firms after the bank announced that it would charge these companies to access customer data鈥攑articularly around payments. JPMorgan is integrating directly with Coinbase rather than using APIs from a company like Plaid.

The news: Target is offering select customers a free year subscription to its Target Circle 360 membership program if they spend $199 on qualifying purchases by September 20, per Modern Retail. The $99 per year membership program offers free same-day delivery from Target, Kroger, CVS, Petco, and other stores via Target鈥檚 Shipt service, along with early access to Target sales, exclusive discounts and deals, and an extended returns window. Our take: Target should borrow a page from Walmart and lean on partnerships to expand Circle 360. That could mean teaming up with companies like Burger King for perks or with credit card issuers like American Express to bundle free memberships. The real power of paid memberships isn鈥檛 just subscription revenues鈥攊t鈥檚 their stickiness. Amazon has shown that once customers pay for Prime, they try to maximize every perk鈥攕treaming, prescriptions, food delivery, free shipping鈥攁nd the more they use, the more they spend. Nonmembers, by contrast, often plateau or pull back. If Target wants to keep pace, it needs to find ways to broaden Circle 360鈥檚 offerings.

The news: Online scams and internet crimes cost Americans a record $16.6 billion in 2024, per Pew Research, potentially reshaping trust in digital platforms. Almost three-quarters (73%) of US adults have experienced some type of online scam, ranging from phishing attempts and online shopping scams to credit card fraud. Most adults report getting weekly scam phone calls (68%), emails (63%) or text messages (61%) that attempt to collect their personal information. The big takeaway: To attract new customers and assuage scam-related hesitations, brands need to be proactive about trust in every digital touchpoint.

The news: American Express bolstered its array of hotels and resorts for Platinum members ahead of its much-anticipated Platinum refresh. The credit card company also debuted exclusive Amex experiences at the US Open Tennis Championship this week. Our take: Expanding its resort collection can help Amex cement its dominance in the premium travel card space. Its lineup at the US Open signals the power of experiential rewards, which craft a unique, memorable experience for members that extends beyond cash or material incentives鈥攁 clever way to distinguish itself from rivals like the Chase Sapphire Reserve.

The news: Block鈥檚 gross profit rose to $2.54 billion, an increase of 14% YoY. Cash App鈥檚 gross profit grew 16% YoY Square鈥檚 gross profit increased 11% YoY Developments like Cash App Afterpay are gradually drawing the distinct Cash App and Square ecosystems into a robust dual-sided network. However, the Cash App鈥檚 enduring lack of a credit card makes it harder for Block to sell itself as the one-stop shop for young people鈥檚 financial needs.

The news: JPMorgan Chase, Wells Fargo, and Citigroup posted strong Q2 2025 earnings鈥攁nd warnings about Trump鈥檚 mercurial economic policies. Our take: While revenues, credit card volumes and delinquency rates reflect positively about the health of the American consumer, their lived experience remains fraught.

The news: Prime members approved for the Prime Visa credit card will receive a $250 Amazon gift card as a welcome bonus during Amazon鈥檚 Prime Day multi-day promotional sales event. Our take: Amazon is trying to optimize its utility for the everyday consumer to deepen its dominance in the American market.

The news: Changes to Amex鈥檚 and Chase鈥檚 credit card welcome offers do away with guaranteed points for new cardholders, per CNET. Our take: Amex and Chase are trying to maximize their marketing appeal while also limiting their rewards costs.

The news: Klarna will be the default payment option for Bolt鈥檚 CheckoutOS merchants, per a press release. Our take: Klarna faces multiple challenges. It has to increase its availability to US consumers while also rivaling credit cards that offer both installment plans and cash back or points that likely exceed the value of Klarna鈥檚 gift-based rewards system through Nift

The news: Capital One, after acquiring Discover, plans to significantly expand its card businesses using Discover's network. This allows the bank to boost profitability and enhance offerings. CEO Richard Fairbank emphasized new services, including attractive rewards for debit cards and compelling credit card deals, funded by increased interchange revenues. Our take: Capital One's Discover acquisition maximizes its expanded infrastructure. Owning a payment network allows Capital One to capture more interchange revenue, reinvesting it into more competitive debit and credit card products. This approach will appeal to consumers facing financial uncertainty, promising better rates and rewards, strengthening Capital One's market position and ability to attract/retain customers.

The news: Verizon customers can now pay-by-bank through Trustly in Verizon鈥檚 brick-and-mortar stores. Our take: As long as the cost of accepting credit cards remains sizable, merchants who have the means to dodge fees will find ways to make pay-by-bank accessible.