Chase Offers New Program to Assist Consumers

[Aug 17, 2007.]

The credit card giant known as Chase is offering a new program to assist consumers with their money management.

The program, entitled the "Chase Clear & Simple" program, offers customers a $10 credit as soon as they sign up for automatic payments, online statements, and free alerts. Through the program, cardholders become greater stakeholders in their credit accounts. As a result, they may be able to manage their credit better, enabling them to enjoy low interest rates and avoid late fees and other penalties.

Customers can receive e-mail, text message, or phone message alerts whenever they come close to their credit limit, whenever their payment is due, or when a large transaction is recorded on their account.

Nearly two million Chase customers have enrolled in the program so far. In addition, Chase is trying to assist consumers who appear to be in financial trouble. By acting when signs of trouble first appear, Chase may be able to help customers avoid defaulting on their credit card payments.
With the flexibility that Chase offers, customers can choose their own payment due dates to coincide with their pay days. That way, they're less likely to miss a payment or pay a credit card bill late.

Chase is certainly not the only credit card issuer to reach out to cardholders in new, innovative ways. A number of other companies, such as Discover and Citibank, are following suit, offering special programs tailor-made to consumer needs. Such programs are beneficial to both the consumer and the credit card issuer, since they help consumers avoid the financial difficulties which can make them unable to pay their credit card debts. Some credit card companies even offer special rewards to student cardholders who maintain good grades.

In addition, because of the many credit card issuers that are in existence today, consumers can do quite a bit of comparison shopping, applying for the cards with the most generous rewards programs and other attractive perks.

Julie Ann Amos
August 17th 2007

Recent News

• Students More Concerned About Credit Scores
  It appears that college students are more concerned these days with maintaining good credit scores. [17th August 2007]


• Concern Rises About Predatory Lending in Mortgage Industry
  Presidential candidate Hillary Rodham Clinton is expressing concerns about shady mortgage lenders who practice predatory lending. Senator Clinton is also requesting a $1 billion government fund that would enable homeowners to avoid the hardship of foreclosure. [15th August 2007]


• New Report Suggests Changes in the Credit Card Industry
  The report by the National Consumer Law Center is particularly critical of the industry's impact on older Americans who may be on a fixed income and therefore unable to deal with large credit card debt.[15th August 2007]


• Credit Card Companies Under More Scrutiny
  The Fed also wants credit card issuers to give consumers more notice when they're about to raise rates. Currently, issuers give consumers 15 days' notice. The Federal Reserve Board wants that expanded to 45 days. [15th August 2007]


• Wall Street Hit By Housing Slump
  There are new fears that the housing crisis that has been gripping the country could have reverberations on Wall Street, the symbol of America's economic health and vitality.[13th August 2007]


• Housing Slump Likely to Continue
  Financial forecasters say the current housing slump is likely to continue in the near term.[13th August 2007]


• Consumers Urged to Pay Heed to Their Credit Scores This Summer
  This summer, financial experts are warning consumers that they need to pay particular attention to their credit scores—before it's too late.[13th August 2007]


• Consumers Searching for Ways to Rebuild Their Credit
  This summer, a number of American consumers are looking for ways to rebuild their credit history. Such a goal is important, considering the fact that a less-than-stellar credit rating can cost you thousands of dollars in interest and life insurance costs. [7th August 2007]