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The Nilson Report stated that consumers used credit cards more commonly than debit cards when measured by purchase volume. Charge card accounted for 52.63 percent of spending while debit cards stood for 47.18 percent of spending. Are you finding that you are spending more on credit cards?

  • United revealed brand-new mileage amounts for honor flights that’d work on or after Feb. 1, 2014. United MileagePlus members can expect to spend even more miles to redeem totally free air travels. It likewise indicates that United charge card consumers will need to invest even more to earn the points to get cost-free tickets, if the cards’ benefits program is not updated to show the modifications to the airline’s regular flier program.
  • Citizens Bank has actually changed its overdraft fee policy to remove overdrafts that occur on deals of $5 or less. At the same time, there will now be a flat fee of $35 per overdraft item, which replaced a tiered fee policy. Furthermore, ATM MACHINE withdrawals, debit card deals, teller-executed transactions and account transfers will now publish in chronological order, instead of an order from highest to least expensive amounts.
  • Capital One aims to grow its private-label, co-branded card business, as the card issuer concentrates on customers who make frequent card deals, however carry little to no balance from month to month. Most just recently, Capital One introduced a co-branded credit card with General Motors, which lets consumers earn benefits towards a new GM car acquisition.
  • While the full level of the damage done by Typhoon Haiyan is unknown, banks might be opening their pocketbooks to contribute to relief efforts following its destruction throughout Southeast Asia. TD Bank revealed that it donated $100,000 to the Red Cross, which is already taking part in rescue and relief efforts. More bank are expected to follow suit.
  • According to a research by The Nilson Report, credit card purchase volume went beyond debit card purchase volume in 2012, the first time in Twenty Years. “Due to the fact that [customers] can borrow cash and pay it back gradually, they can be able to spend more on credit than they carry their own accounts,” said David Robertson, publisher of The Nilson Report.

Consumers Used Credit Cards More Than Debit Cards: 5 Things to Know for the Week