JPMorgan Chase & Co. is developing a proprietary rewards credit card that would enable family members to pool points in a single rewards account. Chase also plans to offer more choices for merchandise redemption and charitable giving. Gordon Smith, CEO of Chase's Card Service unit, told analysts late last month that the issuer will offer the card by the end of the year. It will complement Chase's established Freedom card, which enables consumers to switch whenever they want between earning miles or points. Smith said rewards cards' share of the issuer's outstanding credit card balances rose from 32% in 2003 to 57% last year, adding that spending on rewards cards is 3.8 times …
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