Over the past decade, new regulations have modernized and transformed the credit card industry. Specifically, the Credit CARD Act addressed the way issuers are allowed to market credit cards to consumers.

When the Credit CARD Act went into effect, the industry lacked transparency. Today, issuers have to be much more transparent about their pricing, terms and conditions, fees, and other credit card features.

This has been a positive development for issuers, as it has leveled the playing field and forced a lot of bad actors out of the industry.

These changes also have been positive for credit union members, who are now more informed and empowered to make good decisions about their use of credit cards.

For credit unions, offering a competitive portfolio of credit card products that are smartly marketed to members can lead to two key benefits:

 

continue reading »