Dimon added that card issuers must do a "better job underwriting upfront and if you want to maintain your clients a better job ... marketing the things such as rewards and services and things like that to grow the business." P/>Chase Card CEO Smith echoed that message. "We really are going through pain right now," he says. "It's the worst macro-environment the card industry at scale has ever seen. And we know we just got to work through it, so that's what we're doing ... investing heavily through this cycle so that as we come out the other side we'll feel we'll have positioned the business with some really good products for our customers." --Written by Laurie Kulikowski in New York.