JPMorgan Chase "Bold"ly Goes Where No V/MC Issuer Has Gone Before...

On Wednesday, J.P. Morgan Chase& Co.'s Chase Card Services plans to formally launch four cards aimed at small-business owners, including a charge card that would require customers to pay in full every month:  From Reuters:



NEW YORK, Sept 23 (Reuters) - JPMorgan Chase & Co (JPM.N), the second-largest U.S. bank, launched a charge card for small businesses on Wednesday, entering a market long dominated by American Express Co (AXP.N).



In addition, the bank launched three new credit cards for small businesses -- offering rewards, cash back and large credit limits. The new cards come at a time when small businesses have experienced great difficulty obtaining new credit.



Unlike credit cards, charge cards have to be paid in full at the end of every month, reducing the risk of defaults at a moment when credit card losses are at record highs in the United States.  The new charge card, called Ink Bold,  (is the TH silent?) is the first charge card from JPMorgan Chase or from any other Visa Inc (V.N) or MasterCard Inc (MA.N) issuer.



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