Skip to content
RATING
Review

This Week in Credit Card News: July 30 – August 5

Updated Sep 09, 2021 | Published Aug 05, 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

New business credit card — U.S. Bank Triple Cash Rewards World Elite Mastercard; Chase adds Air Canada Aeroplan as new 1:1 transfer partner; U.S. consumer demand for credit card debt grows in Q2.

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.

New Business Credit Card — U.S. Bank Triple Cash Rewards World Elite Mastercard

  • U.S. Bank has released a new credit card for small business owners: U.S. Bank Business Triple Cash Rewards World Elite™ Mastercard®.
  • The Triple Cash card is inexpensive and designed for a variety of spending, while giving you a chance to pay off new business expenses or old credit card debt. Features include:
    • 3% cash back at:
      • Gas stations
      • Office supply stores
      • Cell phone service providers
      • Restaurants
    • 1% cash back on all other eligible purchases
    • Welcome bonus: $500 cash back after spending $4,500 in the first 150 days
    • Purchase APR: 0% 15 billing cycles on purchases, then 13.99% - 22.99% Variable
    • Balance Transfer APR: 0% 15 Billing Cycles, then 13.99% - 22.99% Variable
    • Balance Transfer fee: Either 3% of the amount of each transfer or $5 minimum, whichever is greater
    • Annual fee: $0
  • The Triple Cash Rewards replaces the old U.S. Bank Business Cash Rewards World Elite Mastercard.
  • See other U.S. Bank credit cards.

Chase Adds Air Canada Aeroplan as New 1:1 Transfer Partner

U.S. Consumer Demand for Credit Card Debt Grows in Q2, According to N.Y. Fed

  • The N.Y. Federal Reserve Bank has released its Quarterly Report on Household Debt and Credit for Q2 of 2021, showing a slightly increased demand for consumer credit card debt and some other loans. These findings reverse the trend of declining credit card and loan use throughout the coronavirus pandemic.
  • Credit card balances in Q2 increased by $17 billion compared to Q1, totaling $787 billion. But this is still $140 billion lower than card balances at the end of 2019.
  • The number of credit inquiries in the past six months (an indicator of credit demand) have increased, after having declined since Q2 of 2020.
  • “We have seen a very robust pace of originations over the last four quarters with new extensions of credit for mortgages and auto loans combined with rebounding demand for credit card borrowing,” said Joelle Scally, Administrator of the Center for Microeconomic Data at the New York Fed. “However, there are still two million borrowers in mortgage forbearance who are vulnerable to financial distress once the forbearance programs come to an end.”
  • Although increased credit card balances may be a sign of a healthier economy, we always recommend paying your credit card statement balance in full (unless you’re using a 0% APR card).
  • Source: New York Federal Reserve Bank
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.

Scroll to top