JP Morgan Chase tries new credit card gimmick to win back customers


After jacking up interest rates and changing repayment terms on its credit cards over the past year, JP Morgan Chase (JPM) wants to play nice for a while. Will anyone buy the idea that this company truly wants to help its customers pay down debt with its new Chase Blueprint program? Offering better interest rates and payment terms would help a lot more.

The program, which the bank plans to unveil Tuesday, will allow customers to designate certain categories of items, such as food, that they plan to pay off in full each month. Consumers will be given a grace period before interest charges accrue on those purchases, as long as they pay those portions of their bill in full. Interest charges will continue to accrue on other charges not in their designated categories.