Consumer Finance

Consumer financing is when a business offers financing to their customers with help from a professional finance company. This allows the consumer to pay for a good or service they couldn't pay for up front in cash or credit card. Consumer finance is helpful for both businesses and consumers
The Parent Debt Trap: Parents’ Credit Card Balances 26% Higher Than Average
Consumer Finance
The Parent Debt Trap: Parents’ Credit Card Balances 26% Higher Than Average
August 15, 2023

That having children is costly may not be surprising — but the extent to which parents with children depend on credit cards is. Proprietary research prepared for the July “New Reality Check: The Paycheck-to-Paycheck Report,” a PYMNTS collaboration with LendingClub, details which consumers are carrying...

Apps and Alternative Data Key to Bringing Subprime Consumers Into Credit Mainstream
Consumer Finance
Apps and Alternative Data Key to Bringing Subprime Consumers Into Credit Mainstream
August 14, 2023

Inflation may be cooling but it still pressures consumers. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS Today. By completing this form,...

LendingPoint Launches Personal Financial Health and Management Tool for Customers
Consumer Finance
LendingPoint Launches Personal Financial Health and Management Tool for Customers
August 14, 2023

LendingPoint has added a personal financial health and management tool to its artificial intelligence (AI)-driven CreditTech platform. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily...

Better Credit Scores Could Put $1,700 in Consumers’ Pockets
Consumer Finance
Better Credit Scores Could Put $1,700 in Consumers’ Pockets
August 10, 2023

Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS Today. By completing this form, you agree to receive marketing communications from PYMNTS and...

Fed Says Consumer Credit Grew 4.3% in June
Consumer Finance
Fed Says Consumer Credit Grew 4.3% in June
August 07, 2023

Consumer credit grew at a seasonally adjusted annual rate of 4.3% in June. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS Today....

Home Is Where the Financial Stability Is — or Isn’t
Consumer Finance
Home Is Where the Financial Stability Is — or Isn’t
July 31, 2023

Rising prices for everything from food to housing continue negatively affecting United States households’ financial well-being. Even as consumers continue to adjust spending to make ends meet and put aside savings, 61% of consumers lived paycheck to paycheck as of June 2023, with 21% struggling...

CFPB: 44% of Student Loan Borrowers Getting New Providers
Consumer Finance
CFPB: 44% of Student Loan Borrowers Getting New Providers
July 30, 2023

When student loans resume this fall, many borrowers will send payments to new providers. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS...

Consumers Have Covered Credit Card Bills So Far, but Defaults Loom
Consumer Finance
Consumers Have Covered Credit Card Bills So Far, but Defaults Loom
July 30, 2023

Until recently, consumers were largely paying off cards and other loans. Current headwinds may change that. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily...

Why Seniors’ Surprisingly Strong Spending Power Starts at Home
Consumer Finance
Why Seniors’ Surprisingly Strong Spending Power Starts at Home
July 25, 2023

Paid-off homes and higher savings cushions could be behind the elder generation’s purchasing abilities. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS...