Tuesday, September 22, 2009

Chase to help Cardholders tackle Debt

Posted by Chris O'Sullivan

More than twenty million Chase Credit cards have been updated with Blueprint, a set of tools to help cardholders control spending and reduce debt. The new program is in reaction to decreased consumer spending on credit cards as they try to lower debts.

Instead of putting away credit cards, Blueprint allows customers to choose which purchases they want to pay off in full, avoiding interest, and which charges they want to pay off over time on a revolving balance, like a traditional credit card.

The expenses that the cardholder chooses to pay off in full each month, such as grocery store purchases, or gasoline, are separated on the statement so that consumers can see how much they need to pay on those purchases plus payments on the revolving balance purchases.

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