Chase launches New Debt Allocation Service ‘BluePrint’

Chase has announced a new service to many of its users named BluePrint.  The service allows customers to selectively finance certain purchases for longer periods of time while choosing to pay off other purchases on an accelerated schedule.

According to Bloomberg,

JPMorgan Chase & Co. is betting it can capture market share from credit-card issuers including American Express Co. by helping consumers better manage their debt.

The lender today rolled out Chase Blueprint, an online billing platform that allows 20 million card holders to finance certain purchases while paying others in full each month interest-free. Customers then choose the number of monthly installments, and Blueprint calculates the interest they can save by paying more than the monthly minimum.

JPMorgan Chase & Co. is betting it can capture market share from credit-card issuers including American Express Co. by helping consumers better manage their debt.

The lender today rolled out Chase Blueprint, an online billing platform that allows 20 million card holders to finance certain purchases while paying others in full each month interest-free. Customers then choose the number of monthly installments, and Blueprint calculates the interest they can save by paying more than the monthly minimum.

The aim of the new service is to encourage consumers to increase their credit card use in return for increased flexibility.  It’s worth pointing out that using multiple credit cards allows a consumer to manage their debt in the same way, albeit requiring some micromanaging.  This said, it’s wonderful that a credit card issuer is working to offer debt management tools and is hopefully a sign that other issues will soon follow suit.

photo credit: Logan Antill