Compare Credit Cards with CardSmart

Home » Credit Card News » Trends and Analysis » Credit card industry in US 'will remain lucrative following new regulations'

Credit card industry in US 'will remain lucrative following new regulations'

The US credit card industry will continue to be lucrative once new guidelines are put in place, it has been reported.

More from Trends and Analysis
29 June 2009

Credit card industry in US 'will remain lucrative following new regulations'”

Bookmarks

Congress is currently formulating new regulations for credit card providers to give a better deal to consumers.

According to analysts at Keefe, Bruyette and Woods, once these regulations are implemented, the credit card industry will continue to be profitable, Reuters reported.

Analysts Sanjay Sakhrani and Steven Kwok told the news provider that Visa and Mastercard are least directly exposed to the new regulations, followed by American Express, as these do not charge interchange rates - fees retailers and merchants have to pay to banks that issue credit cards.

The new regulations will not apply to credit card providers in the UK.

According to UK payments industry association Apacs, there were 1.9 billion plastic card purchases made in the UK totaling £94.2 billion in the first quarter of 2009, compared to 1.8 billion purchases totaling £91.2 billion in the same period last year.

Written by ©

Credit Cards	0% Balance Transfers	0% Purchases	APR Representative (Variable)
	Tesco ClubCard Credit Card
	9 months	15 months	16.9^%
16.9% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.9% p.a(variable).
	Virgin Credit Card
	20 months	3 months	16.8^%
16.8% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.8% p.a(variable).
	Barclaycard Platinum with BT
	22 months	3 months	17.5^%
17.5% APR representative (variable). Based on a credit limit of 1200 and purchase rate 17.5% p.a(variable).
Compare More Credit Cards...

The content and information on this website are intended as general information only and shall not be construed as financial advice or recommendations of any nature in accordance with the Financial Services and Markets Act 2000 nor is it intended to address specific financial requirements. Read more... We strongly recommend that you seek independent financial advice before using and/or relying on the information made available to you or prior to purchasing any financial product/service listed on the Website. Whilst every attempt has been made to ensure that the content and information published are true, correct and up to date, no warranty, guarantee or representation is given as to its accuracy, reliability or fitness for a specific purpose.

The Best Buy credit card comparison tables feature financial products/services of our advertisers and may not necessarily constitute the best offers in the market for each of such products/services.