Credit card balances and delinquencies have been rising as consumer spending remains strong, but government support drops from pandemic levels. During the third quarter, large bank credit card nominal balances continued to grow, and all stages of delinquency approached the highest levels on record since...
Consumers loaded up on debt even before the holidays and into Black Friday — and those of us living paycheck to paycheck may feel the pinch of that added debt. Right as delinquencies are creeping up. The latest data from the Federal Reserve, released Monday (Jan....
Consumers’ total outstanding credit leapt by $23.7 billion in November after growing by $5.8 billion the previous month. Revolving credit accounted for $19.1 billion of the increase, while nonrevolving credit made up the other $4.6 billion, the Federal Reserve said Monday (Jan. 8) in its monthly report on consumer...
Americans ended 2023 dealing with increasing financial strain, relying more on personal loans. That’s according to a recent report by VantageScore, which warns that increased dependence on these loans and other higher-interest credit products could make it harder for consumers to pay their bills in the months...
Consumers with difficulties making ends meet may have a reason to be optimistic, recent PYMNTS Intelligence data shows. Looking at the U.S. population according to financial lifestyle, the PYMNTS Intelligence “New Reality Check: The Paycheck-to-Paycheck Report” identifies three different sets of consumers: those who live...
The holidays can be a stressful time financially for many consumers. Often, those consumers — particularly those living paycheck to paycheck — turn to their credit cards as an essential financing tool. But these quick-fix expenditures can add up. “Americans now owe over $1 trillion...
In recent years, split-pay options have gained popularity among consumers of all demographic groups looking for greater flexibility in managing their expenses. But it’s not millennial, Gen Z, or low-income consumers who are most likely to use these plans — it’s high-income consumers. This applies...
Emergency expenses are a reality all consumers eventually face — and when economic headwinds and factors like rising prices enter the equation, these unexpected expenses can be burdensome, especially for credit-marginalized and younger consumers. Some consumers’ savings will not be enough to cover the cost...
Many people are resorting to credit cards to navigate difficult financial times, especially as the rising prices of goods and services continues to weigh on U.S. consumers’ wallets this holiday season. In “The Credit Card Use Deep Dive Edition” of the “New Reality Check: The Paycheck-to-Paycheck...
