Credit card customers at JPMorgan Chase appear to be cashing in on their loyalty rewards faster than expected.
The bank said Friday that it needed to set aside an additional $330 million from April through June because its customers have taken advantage of perks like cash-back on purchases and frequent-flyer miles.
Having to set aside more than expected is not ideal for banks, but there is a silver lining: a rise in points redemption shows that customers are confident enough in the program to boost their spending and....