Millennials and bridge millennials most frequently turn to deferred payments for purchasing consumer items. These consumers are generally considered to have been born between 1980 and 1989, and between 1990 and 1999, respectively. As PYMNTS has found, they are also the highest spenders on average,...
The delinquency rate in Capital One’s domestic card business continued to rise in the third quarter and has returned to its pre-pandemic level. The 30-day performing delinquency rate in the domestic card business was 4.3% during the quarter ended Sept. 30, up from 3.7% in the...
In an era of increasing price levels and eroding purchasing power, having a high credit score is vital for accessing credit and maintaining financial stability. In “The Credit Accessibility Series: Declining Purchasing Power Pushes Consumers to Improve Credit Scores,” PYMNTS Intelligence draws on insights gathered from a...
From buy now, pay later (BNPL) to credit card installments, there are diverse credit and lending products available to consumers today. However, for two-thirds of the world’s population, particularly in emerging markets, access to formal credit can be extremely challenging, if not impossible, says Kunal...
Consumers don’t think the pressures on the household budgets are going to abate anytime soon. And certainly not in the next year. The University of Michigan’s latest reading of consumer sentiment fell sharply in its preliminary October reading, sliding from September’s 68.1 level to a...
Consumer credit card debt in the United States has surpassed the $1 trillion mark, leading to heightened concerns about credit insecurity among both consumers and providers. Against that backdrop, many consumers grappling with high debt are more likely to face bankruptcy and be limited to...
Zilch, a U.K.-based ad-subsidized payments network, has launched a new credit product called Zilch Up. Aimed at empowering individuals who are typically excluded from mainstream credit, this offering provides access to millions of people to build their financial profiles safely and responsibly, without incurring any...
Present economic and financial challenges have compelled individuals from various income brackets and credit backgrounds to resort to overdrafts — a form of credit whereby a consumer’s bank covers a transaction or withdrawal when there isn’t enough money in an account. In the past year,...
Through the next few months, the purses and wallets will open in anticipation of holiday spending. Beyond the cash flow hangover that might be a result, and as consumers continue to expect inflation to remain a feature of everyday life and perceive credit as tougher...