JPMorgan Looks to Make Loans to Large Credit Card Base

Later this year cardholders will be able to access loans from JPMorgan Chase through “My Chase Plan” which features a fixed monthly fee or “My Chase Loan” which will allow users to convert a portion of their unused balance into a loan; the two products were announced at their investor day yesterday; users will be able to apply online or through the Chase mobile app; citing the current environment the bank said they would focus on making high quality loans with strong yields. Source