For years, the so-called “credit card outsiders,” a diverse group of American consumers that includes a variety of cohorts, have each independently resisted the credit card siren song of rewards points, cash-back offers, and financial flexibility. Many of these individuals rely on cash, debit cards,...
When it comes to credit, baby boomers and seniors stand out for their distinct preferences. Despite being major users of credit cards and store cards, these older consumers show little interest in adopting new credit products or alternative payment methods like buy now, pay later...
Consumers’ relationships with credit are shaped by various life circumstances, which influence their decisions to enter or leave the credit market. A PYMNTS Intelligence report, What Causes Credit Card Users to Leave the Market — and How Secured Cards Can Win Them Back, in collaboration...
By now, the story of the birth of the credit card has taken on the stuff of legend. The current state of that legend dates the key event to Feb. 8, 1950. That’s 75 years ago today. And here we are. Let’s first recount the...
Senators Bernie Sanders, I-Vermont, and Josh Hawley, R-Missouri, introduced a bill Tuesday (Feb. 4) that would cap credit card interest rates at 10%. The Sanders-Hawley bill would cap the interest rates immediately and the legislation would remain in effect for five years, the senators said...
The general tone of earnings season has been cautiously optimistic, as banks and payment networks have pointed to the willingness of consumers to keep spending. But some trends bear watching, particularly the delinquency and charge-off trends of those same firms. Delinquencies are a useful harbinger...
A battle in Illinois over interchange fees could influence other states to decide whether these fees should be reshaped or banned. Banks charge each other interchange fees to cover the processing costs of credit and debit card payments. When a consumer buys goods or services...
Conventional wisdom is that younger generations are tech-savvy and the most willing to try new devices, apps and payment methods. However, PYMNTS Intelligence research from the How People Pay Report, titled “eCommerce for All: How Consumers Across Generations Make Purchases Online,” found that any generation...
American Express said Thursday (Jan. 16) that it expects to pay $230 million to settle previously disclosed investigations by the U.S. Department of Justice and the Federal Reserve. The company entered into agreements with the Justice Department and expects a resolution with the Federal Reserve...