Credit card companies have added text messaging to the list of benefits that they offer to help consumers stay in control by offering credit card reminders and alerts, which are delivered to you via a text message on your cell phone.

Chase has launched a new program called the Chase Clear & Simple program. The program has a number of great benefits and tools which can help cardholders manage their account more easily, which can help prevent late fees and maintain the lowest interest rate on the account. Chase is offering a $10 credit for cardholders who sign up for all three online tools - Free Alerts, Automatic Payments and Online Statements.

Customers can select between receiving these alerts by text messages, phone messages or email alerts. These alerts can be set up and be tiggered when transactions of a certain amount occur, give you a heads up when you are nearing your credit limit or just a reminder when it is time to make your monthly payment. Since the penalties of forgetting just one credit card due date can be devastating, these new tools can become very handy. Current Chase customers can sign up for these alerts at http://www.chaseclearandsimple.com.

Initiatives offered as part of the Chase Clear & Simple program include:

• Incentives to Pay on Time & Avoid Fees: This summer, Chase will offer cardmembers a $10 credit when they sign-up for helpful tools like free alerts, auto-pay and online statements so that they can more easily manage their accounts, avoid late fees and preserve their best rates.
• Proactive Outreach: Because Chase wants to help its customers stay out of financial trouble, Chase is proactively sending letters, e-mails or phone calls to customers who are showing signs of financial stress, and even before they get behind on their payments, to offer solutions and custom payment strategies.
• Choose Your Due Date: Chase customers can select their own payment due date, choosing the date that is most convenient for them.
• Over-Limit Controls: Customers can protect their accounts against over-limit fees by adding customized 'controls' to their accounts that contain their spending within their credit limit
• Military Shouldn't Pay Extra Price: Chase knows that military members sacrifice greatly to serve their country and wants to make managing Chase accounts especially easy for customers making that commitment. Chase has a history of going above and beyond federal law in its treatment of military customers, such as reducing interest rates on all balances - including those incurred after going on active duty - and not charging late or over-limit fees on those accounts.
• Helping Those Who Are New to Credit: Chase is committed to helping first-time users of credit cards - especially college students - learn how to use credit responsibly. To help them pay on time, the company has a range of programs to remind them of due dates, let them know if a payment is late and offer advice on how to manage their credit card use.
• Simplified Cardmember Communications: Chase has designed an ongoing series of communications to help cardmembers easily understand and control their credit card accounts and avoid fees. For example, Chase is testing a new card 'user's guide' that lays out the rules for credit card use in clear and simple language so that customers understand what responsible credit use means. A communication has already gone to about 30 million cardmembers outlining for them - in plain language - tools and tips on avoiding fees and keeping their accounts in good standing.
• Chase Clear & Simple Web Site: The Chase Clear & Simple Web site (http://www.chaseclearandsimple.com) provides consumers with tips and information to help them better manage their personal finances and easy-to-use tools that empower customers to use credit cards wisely.
• Payment & Budget Calculators: Chase offers a variety of free payment and budget calculators on its website to help with a wide range of financial planning, including a payment calculator that will allow consumers to calculate the length of time it will take to pay off any credit card balance.
• Rate Reset: Even though 92 percent of Chase customers start and end the year with the same or better interest rate, Chase offers a solution for those customers who have slipped and made a few late payments. If a customer signs up for automatic payment and makes on-time payments for 12 consecutive months, Chase will ensure that the customer's rate is reset to the lower, original non-promotional rate.

Hopefully consumers will continue to see more types of these kinds of initiatives as credit card companies continue to realize the significant savings and increased customer satisfaction that these benefits can offer. Although these types of initiatives are designed to make things easier for the cardholder, it is kind of a 'win - win' situation for everyone involved. Cardholders avoid late fees and preserves the best rates while the credit card company enjoy responsible cardholders that are proactive with their accounts and pay their bills on time. Personalized cell phone alerts is a fairly new service and may not be available to all credit card holders, however many credit card companies now offer the same personalized alerts sent via email and/or telephone.