4 Min Read
(Reuters) - Big U.S. banks are prepared for credit-card balances to start ticking up again this year as pandemic restrictions ease and stimulus checks stop arriving, setting up the industry for a bump in one of its most profitable businesses.
FILE PHOTO: Mastercard Inc. credit cards are displayed in this picture illustration taken December 8, 2017. REUTERS/Benoit Tessier/Illustration//File Photo
Lenders, including Capital One, Citigroup and JPMorgan, have been sending out more promotions to enroll new customers and encourage borrowers to spend, said Andrew Davidson of marketing-tracker Mintel Comperemedia. Some 260 million offers were sent in March, the firm estimates.
Big banks look for post-pandemic rebound of credit card revenue
By David Henry
Reuters
(Reuters) - Big U.S. banks are prepared for credit-card balances to start ticking up again this year as pandemic restrictions ease and stimulus checks stop arriving, setting up the industry for a bump in one of its most profitable businesses.
Lenders, including Capital One, Citigroup and JPMorgan, have been sending out more promotions to enroll new customers and encourage borrowers to spend, said Andrew Davidson of marketing-tracker Mintel Comperemedia. Some 260 million offers were sent in March, the firm estimates.
Banks have increased digital marketing, too, on Facebook, Instagram, video sites and podcasts, he said.
Banks say socially disadvantaged farmer payments harm business farmprogress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from farmprogress.com Daily Mail and Mail on Sunday newspapers.
International Business News: Big US banks are prepared for credit-card balances to start ticking up again this year as pandemic restrictions ease and stimulus checks stop arriving