JPMorgan Chase & Co. is cutting prices for a group of its credit card customers and getting Visa Inc to shoulder at least some of the burden of the lost revenue, underscoring how the largest U.S. bank's size can help it hang onto business in fiercely competitive markets.
Credit card fees generated about 4 percent of the bank's revenue in 2014, but analysts said that much of that money has historically fallen to the bottom line, making it a critical support for the bank's $22 billion of annual profits.
"So far, there is no evidence that it has mattered in a way that changes market share," said veteran card company analyst Craig Maurer of Autonomous Research.