Until recently, consumers were largely paying off cards and other loans. Current headwinds may change that. It is a testament to consumer resiliency that credit card late payments and other delinquencies have remained low for so long, despite the prolonged challenge of doing more with...
Paid-off homes and higher savings cushions could be behind the elder generation’s purchasing abilities. Even as they ease out of their peak earning power, baby boomers and seniors remain the generation most able to make ends meet. Born before 1964, members of this demographic are...
Amber Carroll, senior vice president of membership and lifecycle strategy at LendingClub, told PYMNTS that the Federal Reserve’s long-quoted stat on financial well-being could use a freshening up. As has been widely reported through the years, the Fed has said that a significant percentage of...
Klarna has joined forces with the Money Adviser Network (MAN) to enable its customers in the United Kingdom to get fast, free debt advice. The buy now, pay later (BNPL) service will alert its customers the debt advice services available from members of MAN, which is provided by...
The overall rejection rate for credit applicants hit its highest level in five years in June. The rejection rate of 21.8% was the highest level since June 2018, the Federal Reserve Bank of New York reported Monday (July 17) when releasing findings from its June Survey of Consumer Expectations...
American homeowners are reportedly living in the age of the HELOC. That stands for home equity line of credit, which — as a Saturday (July 15) Bloomberg News report notes — has become a more popular method of borrowing against the value of consumers’ homes...
For the U.S. consumer, call it a case of digesting the debt that’s already on the books. To that end, the Federal Reserve said Monday (July 10) that growth in consumer credit — as measured across the board — slowed to 1.8% in May, as...
Covering costs amid higher prices have left consumers across income levels stretching their budgets — even among those in the highest earning brackets. The share of high earners living paycheck to paycheck has been most recently indicated in proprietary research carried out in preparation for...
This installment of PYMNTS’ mini-series on consumer behavior popularized during the pandemic focuses on the rise of online grocery purchases. The end of lockdowns did not signal the end of market share woes for brick-and-mortar grocers, who have ceded significant spend to their digital counterparts...