With the recession biting, JPMorgan Chase is rolling out an online service called Blueprint designed to help cardholders manage their spending and borrowing.
Chase Card Services says the service is fully integrated into customers' accounts, enabling them to create customised payment plans and track their progress on every statement, either online or over the phone.
Chase says a survey it conducted of 4026 US consumers found that 74% consider it "very important" that they have complete control over managing their finances and believe that cards are an essential part of that equation.
Blueprint includes a "Full Pay" feature that enables customers to decide which expenses they want to pay in full every month - items like groceries, gas, prescriptions - and set them aside to avoid paying interest.
A "Split" feature is designed to help customers better manage larger purchases like home improvements. They can select the number of payments or the monthly payment.
"Finish it" lets users create a plan to pay down their balance, with Chase calculating monthly payments, setting up the plan and charting customers' progress toward achieving their goal on each monthly statement and online.
Finally, a "Track it" feature means users can track their spending online by category whenever they want.
Gordon Smith, CEO, Chase Card Services, says: "Consumers want more control, simplicity and predictability when it comes to their finances. With Blueprint, customers can design their own plan to pay off balances sooner, save money by avoiding interest charges, and then easily track progress toward achieving their financial goals."