Wells Fargo and Bilt are denying reports that their co-branded credit card relationship is in trouble. “There has been no conversation among decision-makers to exit the Bilt agreement,” a Wells Fargo spokesperson said. Bilt, meanwhile, says it is “committed to a long-term partnership with Wells Fargo,” with CEO Ankur Jain echoing the same on Twitter Sunday. “General-purpose credit cards dominate the consumer credit card landscape,” that report said. Co-branded card owners are more likely to pay their balances off each month, with 52% doing so compared to 49% of general-purpose card holders.

Source: Wall Street Journal June 17, 2024 11:42 UTC