Compare Rates Now

Credit Cards Evolving in the New Economy

Posted by: RateAPY Bank Rates News
December 25th, 2009

Banking is going through a lot of changes. Banks are trying to attract new customers while at the same time reducing their risk of losses. Many of their losses have come from defaults on credit card balances. New credit products are sure to emerge that both attract clients and limit losses. Old products are also making a fresh appearance.

Charge Cards vs. Credit Cards

Charge cards are an old-school way to pay for goods using plastic. Unlike a revolving credit card, charge card balances need to be paid in full each month. Banks are able to advertise and attract new customers without offering revolving credit cards with huge available balances.

As the old and new products begin to emerge, you will likely see more creative ways to attract customers while playing by the new rules of the economy.

2 Comments »

  1. Posted by: Aaron Wakling
    Posted: December 25, 2009

    Nice writing style. I look forward to reading more in the future.

  2. Posted by: Online Source for the Best Bank Rates & Bank Deals Blue by about
    Posted: December 25, 2009

    [...] the rest here: Online Source for the Best Bank Rates & Bank Deals By admin | category: best credit card rates | tags: attract-new, charge-card, credit-card, [...]

Leave a comment