Credit Card Terms Tracking Study
The objective of the Credit Card Terms Tracking Study is to provide our clients with robust insights into how card issuers are adjusting their pricing, fees, and other card terms, and communicating these changes to cardholders. The report highlights changes that are being driven by the Federal Reserve UDAP regulations, as well as those that are being driven by current economic conditions.
On a monthly basis, Lightspeed Research gathers changes in terms notifications directly from customers of the largest card issuers in the U.S. as well as other mid-tier issuers. The information from these statements is compiled, analyzed, and synthesized to provide our clients with a report that includes detailed breakdowns of changes in cardholder terms, including interest rate calculations, billing cycle changes, penalty pricing and fees.
About the Study
- This study tracks and documents credit card pricing and terms changes across the portfolios of the top card issuers in the U.S. The analysis focuses particularly on recent or forthcoming changes to credit card terms impacting APRs, fees, and allocation of payments. Data is also reported for smaller issuers and private label credit cards as available.
- The changes in terms details provided in this report are collected through a nationwide survey of approximately 4,000 credit card holders each month. The terms documentation included in the this report is based on copies of actual change in terms notifications mailed by issuers to U.S. consumers. Relevant sections of current terms changes are included in the Appendix.
- The supplemental data on major issuers’ pricing, later and over limit fees, and grace periods are drawn from Lightspeed Research’s behavioral tracking panel – a nationally-representative sample of cardholders from whom we electronically capture credit card and debit card statement details on an ongoing basis.