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JPMorgan Chase’s Crypto Pivot Could Reshape Lending Strategies for Card Issuers
JPMorgan Chase is considering using customer cryptocurrency holdings to inform lending decisions. Financial institutions that move to use a client’s cryptocurrency assets in lending practices stand to gain more customers who deal in digital assets.
The U.S.’s biggest bank will partner with the crypto exchange to link Chase bank accounts and Coinbase crypto wallets.
However, Chase recently announced on cardholder statements that effective Oct. 10, 2024, Chase will no longer allow customers to use its credit cards to pay for third-party BNPL services.
We analyzed 39 credit cards currently offered by Chase to pick the best ones no matter what kind of spender you are, looking at factors such as annual fee, interest rate, rewards and benefits.
It also issues credit cards. A Chase account cardholder might see the bank reported under several other names, which are JPMCB, JPMorgan Chase Bank, JPMCB Card or JPMCB Card Services ...
Chase may pull reports from one or more of the credit bureaus to make its credit decisions. Which credit bureau the bank uses often depends on the state you live in.
Chase isn’t the first card issuer to prohibit BNPL payments—Capital One did so in 2020. Whether others will follow as BNPL services come under increasing CFPB scrutiny remains to be seen.
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