Consumers should proceed with caution when selecting their next credit card, according to a recent blog post from the Consumer Financial Protection Bureau (CFPB). In the post, Julie Margetta Morgan, the CFPB’s associate director of research, monitoring and regulations, reminds readers that the top 10 credit card companies alone...
Split-payment or installment plans such as buy now, pay later (BNPL) enable consumers to shop more strategically, buying items one day and paying for them with a set schedule of payments over time to better manage their budgets. According to PYMNTS Intelligence’s “Divided, Not Conquered:...
Online lender Enova International reported growing lending volume and solid credit performance for the first quarter. During the quarter ended March 31, Enova’s combined loans and finance receivables increased 23% year over year, reaching a record $3.5 billion. Total company originations for the quarter totaled $1.4 billion,...
Earnings season, so far — and chiefly through the big banks — is pointing to some strength in consumer credit. And that strength has been measured through FICO scores detailed by the FIs, in charge-off rates, and in general commentary on spending. Bank of America...
November 21, 2023
As the holidays near, balancing tight budgets with the festive spirit can become a challenge. Which is why traditionally, many consumers turn to credit to navigate holiday expenses, ensuring celebrations are not marred by financial constraints. However, recent trends show a decline in reliance on credit for holiday shopping, hinting at smarter spending habits despite […]
September 19, 2023
Labor Day has come and gone, and the holiday season is just around the corner. But current economic and financial conditions are forcing consumers to face some tough choices about...
May 17, 2023
The red lights are flashing. Credit is becoming more expensive, lenders are becoming more restrictive. Yet consumers are still spending. They still want to spend — and they may need...
May 15, 2023
Bank charge-off rates indicate possible trouble on the horizon as consumers increasingly miss monthly payments. It can take just a single life event to turn someone’s world upside down —...
April 23, 2024
Online lender Enova International reported growing lending volume and solid credit performance for the first quarter. During the quarter ended March 31, Enova’s combined loans and finance receivables increased 23% year over year, reaching a record $3.5 billion. Total company originations for the quarter totaled $1.4 billion, according to the press release. Small and medium-sized business (SMB) products […]
April 16, 2024
Financial intelligence company IDIQ has launched a platform that aims to help consumers build their credit scores. CreditBuilderIQ, announced Tuesday (April 16), joins the company’s suite of identity theft protection, credit monitoring...
April 10, 2024
A growing share of credit card accounts are past due on their payments. The Federal Reserve Bank of Philadelphia said in a Wednesday (April 10) press release that the share of accounts that...
March 07, 2024
Consumers’ total outstanding credit leapt by $19.5 billion in January. Revolving credit accounted for $8.4 billion of the increase, while nonrevolving credit made up the other $11.1 billion, the Federal Reserve said...
