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Capital One

Welcome to the News View for "Capital One".

Here, on these archive pages, you'll find all of the articles on Payments News for Capital One listed in date sequence beginning with the most recent article at the top of the page.

Click here for a complete listing of what's available in the Payments News Archive - organized by both posting date and subject category.

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June 08, 2009

US Credit Card Issuers Adapting to New Card Law

Tags » Capital One, Card Issuers, Credit Cards, Financial Regulators  » Comments (0)

In an article titled "Capital One Looks to Adapt to Credit Card Laws", Thomas Heath writes for the Washington Post about Capital One's plans to "reinvent itself for a new age of regulation."

June 02, 2009

Capital One Introduces Card Lab Connect for Nonprofits

Tags » Affinity Cards, Capital One, Card Issuers, Credit Cards  » Comments (0)

Capital One has launched Card Lab Connect, a credit card affinity program that Capital One says helps nonprofits expand their giving channels while providing their supporters with a convenient and meaningful way to donate to charity programs. Unlike most affinity card programs which generally cater to larger, national organizations, Capital One Card Lab Connect is available for nonprofits of all sizes. READ MORE

April 21, 2009

Capital One Reports 1Q2009 Financial Results

Tags » Capital One, Card Issuers, Credit Cards  » Comments (0)

Capital One has reported first quarter 2009 financial results. In its credit card business, credit card purchase volume declined 11.9% vs 1Q2008 and the number of loan accounts declined over 13%. The U.S. credit card charge-off rate increased to 8.4 percent for the first quarter of 2009 vs. 5.85% a year ago.

February 18, 2009

Help With My Credit Launched by US Credit Card Issuers, Networks

Tags » Bank of America, Capital One, Card Issuers, Citi Cards, Consumer Debt, Credit Card Debt Counseling, Credit Cards, Discover, Help With My Credit, MasterCard, Visa  » Comments (1)

A group of credit card issuers and payments networks (Bank of America, Capital One, Citi and Discover Card along with MasterCard and Visa) have introduced Help With My Credit, a resource to assist and educate consumers struggling to make their credit card payments.

According to a press release issued late Tuesday, "Help With My Credit invites consumers to call a toll-free telephone number (1-866-941-1030) where operators will provide them with information about speaking with customer service representatives within participating credit card issuers or to accredited credit counseling agencies, depending on the individual’s situation and needs."

Consumers can also visit a new Web site, http://www.HelpWithMyCredit.org, which provides consumers information on how to manage credit cards and better communicate with their credit card companies, and how to identify and speak with an accredited credit counselor. READ MORE

January 22, 2009

Capital One Reports 4Q2008 Financial Results

Tags » Capital One, Card Issuers, Credit Cards  » Comments (0)

Capital One has reported financial results for the fourth quarter of 2008. In Capital One's US Card business, purchase volume in the fourth quarter declined over 10% vs. 4Q2007 and was down 5% from the third quarter of 2008. Chargeoffs on the US Card business increased from 4.84% to 7.08% between 4Q2007 and 4Q2008.

September 16, 2008

Capital One Bank Launches Checking Account with Rewards

Tags » Capital One, Card Reward Programs, Debit Cards  » Comments (0)

Capital One Bank has announced it has introduced a Rewards Checking account that "allows customers to easily earn rewards for everyday banking activities." READ MORE

July 03, 2008

Capital One's Decoupled Debit MasterCard Spotted in the Wild

Tags » Capital One, Card Reward Programs, Debit Cards, Decoupled Debit Cards  » Comments (0)

Morriss Partee, CEO of EverythingCU.com, blogs on the Payment Industry Insider blog about an email he recently received from Capital One offering him "big rewards for his debit purchases - without changing banks." Partee writes: "No longer a regional effort tied to rewards at a supermarket chain, they now (presumably) have gone national, and have tied it to their own reward program. On top of that, they are charging the consumer $19.95 per year for the service."

You can read more about Capital One's Debit MasterCard at the Capital One web site. A comprehensive FAQ on the product is available. Rewards are only earned on signature-based (not PIN-based) purchases. Note that the new debit card is also "paperless" - a paper statement of account activity is only available upon request each month and has a $3.00 fee.

June 03, 2008

New Orbitz Visa Credit Card Powered by Capital One Rewards

Tags » Capital One, Card Issuers, Card Reward Programs, Visa  » Comments (0)

Orbitz Worldwide has introduced a new Orbitz Visa Credit Card powered by Capital One No Hassle Rewards, a new credit card that it says "makes it easy for travelers to earn triple Capital One No Hassle Rewards points by booking airfare, hotel accommodations and vacation packages on Orbitz.com." READ MORE

May 20, 2008

Are You Frustrated About Waiting to Pay?

Tags » Canada, Capital One, Contactless Payments, MasterCard  » Comments (0)

New survey results announced by Capital One Canada find that "individual Canadians spend more than 115 hours - almost five days - each year waiting in line and paying for daily purchases" - and that contactless payments can help save between 28 and 46 hours of that time. READ MORE

May 05, 2008

Decoupled Debit Card Tests Shutdown by Capital One

Tags » Capital One, Debit Cards, Decoupled Debit Cards  » Comments (0)

Will Wade reports for the American Banker (subscription required) that Capital One is shutting down two merchant pilots of its decoupled debit card product that was announced last May.

April 03, 2008

Capital One Moves to Fixed Interest Rates on Some Credit Cards

Tags » Capital One, Card Issuers, Credit Cards  » Comments (0)

Jane J. Kim writes for the Wall St. Journal about Capital One's changing of interest rates on some of its credit cards from variable to fixed rates. With a fixed rate, any further reductions in interest rates as the result of Federal Reserve actions aren't passed along to the cardholder as lower interest charges.

February 21, 2008

Capital One Introduces Enhanced Rewards Card for Small Businesses

Tags » Capital One, Card Issuers, Card Reward Programs, Commercial Cards, Credit Cards  » Comments (0)

Capital One has announced the Preferred No Hassles Miles card, a card that it says "offers small business owners double rewards for travel and entertainment purchases."

READ MORE

January 14, 2008

Reading the Credit Card Delinquency Tea Leaves

Tags » American Express, Capital One, Consumer Debt, Credit Card Debt Counseling, Credit Cards  » Comments (0)

In an article titled 'High-End Cards Fall From Grace', the Wall St. Journal's Robin Sidel and David Enrich report on last week's news from American Express and Capital One about increasing delinquencies in their credit card portfolios. Later this week, other major issuers will report financial results - including JP Morgan Chase, Citigroup. Another very large issuer, Bank of America, will be reporting financial results next week.

Over the weekend, the New York Times' Floyd Norris reported on last week's Federal Reserve report about the recent surge in growth in consumer revolving debt.

January 08, 2008

Capital One Supports Personalized Images on Credit Cards

Tags » Capital One, Card Design, Credit Cards  » Comments (0)

Capital One has announced the addition of a new “personalized image” feature for its customers. All Capital One consumer credit card customers now have the option to visit the Capital One web site and upload their own photo images – family, friends, pets, or a favorite picture – to be printed on their card, at no cost.

READ MORE

December 07, 2007

A Look at Capital One's Card Lab

Tags » Capital One, Card Issuers, Credit Cards  » Comments (0)

Ron Shevlin writes on his Marketing ROI blog about Capital One's Card Lab. Shevlin's verdict? "Card Lab is a winner"

November 26, 2007

Capital One's Card Lab

Tags » Capital One, Card Design, Card Issuers, Credit Cards  » Comments (0)

You've probably already seen the ads. Capital One Financial Corporation has announced the launch of the Capital One Card Lab, calling it "a convenient online tool designed to help consumers select from a menu of terms and options to build their own credit card. The Capital One Card Lab site offers an array of options related to interest rate, annual fee, rewards and even the design on the front of their card and allows consumers to select the combination of features that are most important to them."

READ MORE

November 20, 2007

Card Issuers Introduce New Credit Card Loyalty Plans

Tags » Capital One, Card Reward Programs, Chase Card Services, Credit Cards, Discover  » Comments (0)

Jane J. Kim writes for the Wall St. Journal about new credit cards from Capital One, Chase Card Services and Discover that offer more "flexibility and convenience" in their rewards programs - intended to make their cards "top of wallet" in terms of consumer preference.

November 19, 2007

Capital One, NetSpend Terminate Acquisition Agreement

Tags » Capital One, NetSpend, Prepaid Cards  » Comments (0)

Capital One and NetSpend have announced that "they have mutually agreed to the termination of their previously announced acquisition agreement and that they have entered into a Letter of Intent to expand their existing strategic relationship. As part of the expanded strategic relationship, Capital One intends to acquire a minority interest in NetSpend, a leading retail marketer of prepaid debit cards, along with an option to purchase additional shares of the company. In addition, the parties expect that a Capital One representative will join the NetSpend Board of Directors."

READ MORE

November 07, 2007

Capital One Holds Annual Investor Conference

Tags » Capital One  » Comments (0)

Capital One held its Annual Investor Conference yesterday. An audio replay along with accompanying slides are available online.

September 23, 2007

Too Much Hassle

Tags » Capital One, Card Issuers, Card Reward Programs, Credit Cards  » Comments (0)

Paul Wenske writes for the Kansas CIty Star about a Capital One customer's recent experience having the interest rate on her No Hassle Miles Card increased from 9.99% to 15.9%. Wenske concludes: "She plans to collect her awards and drop her Capital One card. Too much hassle."

September 12, 2007

Capital One to Launch Rewards for Money Market Account

Tags » Capital One, Card Reward Programs  » Comments (1)

Jane J. Kim reports for the Wall St. Journal about plans by Capital One to launch a money market account soon that will offer rewards points based upon a customer's average monthly balance.

August 07, 2007

Capital One Acquires NetSpend for $700 MM

Tags » Capital One, NetSpend, Prepaid Cards  » Comments (0)

Capital One has announced that it has entered into a definitive agreement to acquire NetSpend Holdings, Inc., the parent company of NetSpend Corporation, a retail marketer of prepaid debit cards, for $700 million in an all-cash transaction.

READ MORE

July 27, 2007

Capital One in Saving Zone Deal with Yahoo!

Tags » Capital One, Credit Cards  » Comments (0)

Capital One and Yahoo! Shopping have announced a partnership "creating the Capital One Saving Zone, a portal on Yahoo! Shopping that offers exclusive deals on select merchandise to Capital One cardholders. At the Saving Zone, Capital One cardholders can receive up to a 40 percent savings on already discounted items, as well as an additional 10 percent off everything they purchase on the site using their Capital One credit card."

READ MORE

July 17, 2007

Some Thoughts re: Capital One's Decoupled Debit Card

Tags » ACH, Capital One, Debit Cards, Decoupled Debit Cards, NACHA, Private Label  » Comments (0)

Broox Peterson shares some of his thoughts in a commentary reflecting on Capital One's recent introduction of a new "decoupled debit" card program.

READ MORE

July 10, 2007

Applying Hockey Strategies to Banking

Tags » Banking Industry, Capital One  » Comments (0)

In an article titled 'Chief of Capital One Applies Hockey Strategies to Banking", Eric Dash writes for the New York Times about Capital One chairman and CEO Richard D. Fairbank, also a hockey player and who applies his hobby to the business strategy of Capital One, calling it the Gretzky Concept. Late yesterday, Capital One announced a series of management changes in its banking business.

June 23, 2007

Have Retail Bankers Left the Barn Door Open?

Tags » Capital One, Checking Accounts, Debit Cards, Decoupled Debit Cards  » Comments (0)

Cornerstone Advisors' Terence Roche writes for Gonzobanker about the new raid on retail bank revenues coming from the likes of Capital One with its new "Capital One decoupled debit card" product and HSBC/Tempo's new CVS-branded debit card. Earlier this week, we noticed that Sheetz has begun working with Capital One on its new debit card program.

Both of these innovative debit card products ride the ACH rails into the consumer's bank checking account - there's no need for the consumer to switch banks - rewarding the cardholder in the process with a much richer rewards program stimulating higher usage and frequency on the new entrants' cards vs. the bank's own traditional (and most likely unrewarded) debit card. Meanwhile, the retail banker is left with the costs of servicing the ACH-based payment and earns no revenue on the transaction itself.

A time for concern? Seems to us that retail bank payments strategists may want to be updating their board presentations! Read Roche's article and decide for your self!

June 21, 2007

Sheetz Testing Branded Capital One Decoupled Debit Cards

Tags » Capital One, Debit Cards, Decoupled Debit Cards, Merchants, Private Label  » Comments (0)

QSR Magazine is reporting that Sheetz has begun "testing an innovative new program that provides debit card customers with rewards similar to those available to credit customers — The Sheetz Debitz MasterCard" with Capital One. Rewards are available on purchases at both Sheetz as well as anywhere else MasterCard is accepted. This is the first merchant using Capital One's recently announced "Decoupled Debit" product that we've come across.

June 13, 2007

Capital One Tests New Decoupled Debit Card

Tags » Capital One, Debit Cards, Decoupled Debit Cards  » Comments (0)

Aleksandra Todorova writes for SmartMoney about Capital One's new "decoupled debit" card strategy. (See earlier posts on this new Capital One product on Payments News here and here.)

June 08, 2007

Paying With Plastic Abroad

Tags » Capital One, Card Issuers  » Comments (0)

Selena Maranjian writes for Motley Fool about using credit cards abroad - and highlights Capital One's approach of not surcharging international transactions.

June 03, 2007

The Next Big Thing in Cards - Co-Branded Decoupled Debit Cards

Tags » Capital One, Card Reward Programs, Debit Cards, Decoupled Debit Cards  »

The Aite Group has announced a new report titled "The Next Big Thing in Cards: Co-Branded Decoupled Debit Cards" that examines Capital One's recent launch of a MasterCard decoupled debit card - calling it "a major breakthrough in card issuing." Aite Group views the product as squarely taking on deposit institutions, and predicts it will have a long-lasting impact on both the card and banking industries. See also Payments News' earlier coverage of this innovative new product. READ MORE

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