Households added more credit in July across cards and long-term loans, extending the financial obligations that will compete with other spending in the months ahead. Consumer credit grew at a seasonally adjusted annual rate of 4.2% in July, according to the Federal Reserve’s latest G.19...
Fifth Third has launched of a new credit aimed at consumers seeking to reduce interest costs and consolidate higher-rate debt. According to a Tuesday (Sept. 1) press release, the Truly Simple Credit Card offers an introductory 0% annual percentage rate on purchases and balance transfers...
Economic pressure is incentivizing consumers more reason to compare the cost of a purchase, the possibility of financing behind it and the alternatives before committing. Financial providers are embedding those choices into a new place: the artificial intelligence (AI) platforms consumers are using to research...
High-end credit cardholders are reportedly finding it tougher to make the most of their cards. That’s according to a report Monday (Aug. 31) by the Wall Street Journal (WSJ), which says stricter rules have made it tougher for consumers to tap perks and rewards. For example, card...
Experian has launched an app on OpenAI’s ChatGPT that helps consumers discover and compare credit card options through a conversation, the company said in a Thursday (Aug. 27) press release. With the Experian Credit Cards app on ChatGPT, consumers can ask about credit cards that fit their goals, such as building credit, earning...
More than 1 in 3 subprime consumers sit outside the card market, leaving lenders and merchants with room to build a more manageable entry point to credit. The PYMNTS Intelligence report “Who Is the Subprime Consumer? A Behavioral Profile,” released in May, found that subprime...
Visa has launched a partnership with payment and data security infrastructure firm Bluefin. This collaboration has yielded a new card-present acceptance offering that combines Visa’s global payment capabilities and Bluefin’s security infrastructure, the companies announced Tuesday (Aug. 25). “Enterprise organizations are no longer looking for individual payment...
The average credit card delinquency rate ticked up from 2.48% in June to 2.50% in July, Seeking Alpha reported Tuesday (Aug. 18), based on the results of seven banks. The figure remains below the pre-pandemic average of 2.68%, according to the report. During the same...
Businesses can now use their Square Credit Card to pay vendors that don’t accept cards, as well as those that do, Square said in a Tuesday (Aug. 11) press release. This enhanced Bill Pay feature lets sellers pay rent, insurance, marketing expenses and other vendor...