Across the span of more than two dozen reports since the darkest days of the pandemic more than three years ago — and with eight reports this year alone — the joint efforts between PYMNTS Intelligence and LendingClub reveal a few hard truths about the...
With October just about to dawn, many stores are already prodding consumers to think about the holiday shopping season, where December looms as a make-or-break month. The weeks leading into the end of the year are a marathon — and often a sprint — of...
Living paycheck to paycheck continues to be the predominant financial lifestyle in the United States, even as inflation has slowed. As of August 2023, 60% of consumers live paycheck to paycheck, with 19% struggling to pay monthly bills. Those living paycheck to paycheck include as...
Credit card companies are seeing losses rise at the fastest rate since the Great Recession. That’s according to a widely shared Goldman Sachs research note published Friday (Sept. 22), which said that losses have been climbing quickly since early 2022, jumping at speeds not seen...
The latest economic data is in, and the Consumer Price Index shows that inflation has picked up to its fastest pace in several months. Amber Carroll, senior vice president of membership and lifecycle strategy at LendingClub, observed that nonessential spending in the paycheck-to-paycheck economy is...
American Express says its credit card delinquency rates remain below pre-pandemic levels. As the company said in a Securities and Exchange Commission (SEC) filing Friday (Sept. 15) the company’s consumer card delinquency rate crept up to 1.2% in August, from 1.1% in July but still below 1.4%...
Living paycheck to paycheck is a harsh reality for millions of individuals in the U.S., and nonessential spending plays a key role in adding to the financial burden on these cash-strapped consumers. In the “New Reality Check – The Paycheck-to-Paycheck Report: The Nonessential Spend Deep...
In light of today’s challenging macro environment, Americans’ savings accounts may need some saving themselves. Inflation is top of mind for increasingly embattled consumers, with PYMNTS Intelligence finding that nearly three quarters of millennials (73%) describe themselves as living paycheck to paycheck as rising rates and more...
The United States is grappling with record-high consumer credit card debt of over $1 trillion, raising concerns about credit insecurity for both consumers and providers. As a result, a significant share of consumers rely on overdrafts to meet short-term financial needs, cover unexpected expenses and...