JPMorgan Blueprint credit card encourages spending

Other card companies have offered tools to analyze spending, but the Blueprint credit card is fully integrated into customers' accounts. This enables the customer to create customized payment plans and track their progress on every statement, either online or on the phone working with a Chase advisor.

"Consumers want more control, simplicity and predictability when it comes to their finances," said Gordon Smith, CEO of Chase Card Services. "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."

Chase's Blueprint card offers some great features for debt management:

• Pay in full on groceries and other everyday items, avoiding interest charges

• Carry other purchases from month to month; interest accrues

• Create a custom plan to pay off a large purchase or the entire balance

With the current economic environment, the Blueprint card will become a valuable spending and debt management tool for many credit card holders. Credit card delinquencies and defaults are at an all time high and helping consumers with debt management while they continue spending is a positive move for JPMorgan Chase.

If consumers do not pay in full with traditional credit cards, interest accumulates on the entire balance from the purchase date. However, the Blueprint feature allows borrowers to keep an interest-free grace period for everyday items, as long as they choose those categories in advance and pay them in full each month.

The launch of Blueprint follows more than two years of planning and research focused on better understanding the way consumers think about borrowing. According to a Chase survey of 4,026 U.S. consumers, 74 percent say it is "very important" that they have complete control over managing their finances and believe that cards are an essential part of that equation.

JP Morgan Chase hopes that its Blueprint credit card will encourage spending while helping consumers manage their debt. The card will be available at no charge to twenty million customers using one of four leading Chase cards: Chase Freedom(SM), Chase Sapphire(SM), Slate(SM) from Chase (formerly Chase Platinum), Ink(SM) from Chase and other Chase business cards.

Written by Cheryl Phillips