Skip to content

This Week in Credit Card News: April 2–8

Published Apr 08, 20212 min read

Advertiser Disclosure

Credit Card Insider is an independent, advertising supported website. Credit Card Insider receives compensation from some credit card issuers as advertisers. Advertiser relationships do not affect card ratings or our Editor’s Best Card Picks. Credit Card Insider has not reviewed all available credit card offers in the marketplace. Content is not provided or commissioned by any credit card issuers. Reasonable efforts are made to maintain accurate information, though all credit card information is presented without warranty. When you click on any ‘Apply Now’ button, the most up-to-date terms and conditions, rates, and fee information will be presented by the issuer. Credit Card Insider has partnered with CardRatings for our coverage of credit card products. Credit Card Insider and CardRatings may receive a commission from card issuers. A list of these issuers can be found on our Editorial Guidelines.

At a glance

Instacart and DoorDash to launch their own credit cards; 41% of survey respondents began using cashless payments because of COVID-19; U.S. consumer credit industry sees big growth in February.

Credit Card Insider receives compensation from advertisers whose products may be mentioned on this page. Advertiser relationships do not affect card evaluations. Advertising partners do not edit or endorse our editorial content. Content is accurate to the best of our knowledge when it's published. Learn more in our Editorial Guidelines.

Instacart and DoorDash in Talks to Launch Their Own Credit Cards

  • Instacart, a grocery delivery company, is reported to be partnering with J.P. Morgan Chase for a new credit card. It may offer 5% back for Instacart purchases.
  • DoorDash, a food and takeout delivery company, has not yet chosen a credit card issuer but has received offers from more than 10 major banks, including Chase.
  • Instacart and DoorDash have seen big gains since the pandemic, and it’s no surprise they’re looking to expand. DoorDash already partners with Chase to offer credit card rewards and benefits; learn more about Chase’s DoorDash benefits here.
  • Source: Wall Street Journal

Survey Finds 41% of Americans Started Using Cashless Payments Due to COVID-19

  • A new survey by CouponFollow found that 41% of respondents began using cashless payments because of the COVID-19 pandemic. It also found:
    • 49% said they are worried about using cash due to the potential risk of COVID-19 transmission.
    • 42% said they started using apps like Venmo and PayPal more often in 2020.
    • 32% are “increasingly reliant” on digital wallets like Apple Pay.
  • Contactless payment options, including mobile/digital wallets, are available for an increasing number of credit and debit cards. Many credit and debit cards allow contactless payments without the use of a mobile app, as well. Learn more about contactless payments here.
  • Source: CouponFollow

U.S. Consumer Credit Sees Biggest Growth Since Late 2017

  • Consumer credit grew by $27.6 billion in February, more than any month since 2017, according to a new report from the Federal Reserve. The gains exceeded estimates given by economists surveyed by Bloomberg. Borrowing rose 7.9% in February.
  • Revolving credit (like credit cards) increased by $8.1 billion; non-revolving credit (such as installment loans, like auto loans and personal loans) increased by $19.5 billion.
  • The improvements are seen to be a result of the broader reopening of the economy, as states lift restrictions, employment bounces back, and consumers become more confident in the economy.
  • Source: Bloomberg
Was this helpful?
Written by

Brendan Harkness

Brendan has been writing about personal finance for over eight years, and is now taking on the challenge of bringing high quality credit education to the masses. He makes sure that Credit Card Insider is covering the most important credit topics transparently and precisely, and that we have up-to-date reviews of credit cards so you can find cards that are right for you.

Do you have a correction, tip, or suggestion for a new post? Contact us here.

The responses below are not provided or commissioned by bank advertisers. Responses have not been reviewed, approved or otherwise endorsed by bank advertisers. It is not the bank advertisers' responsibility to ensure all posts are accurate and/or questions are answered.