Delinquent and defaulted credit card debt has been on the decline for some time now, and new data suggests that instances of both are tied very closely to unemployment rates. As the effects of the recession slip away and employers continue to expand their hiring practices, it’s expected that consumers will make more on-time payments […]
One of the nation’s largest lenders and payment processors found that consumers took on more credit card debt but fell behind on payments less often between March and May. In that three-month period, Discover Financial Services saw both the dollar value of purchases on its branded credit cards and the number of transactions it processed […]
Consumers continued to make on-time payments into their outstanding credit card debt in May, despite experts' predictions that late accounts might increase. Economic indicators such as a disappointing jobs report ledsome experts to speculate that instances of both delinquency and default would increase for the nation's top six credit card lenders in May, but that […]
The rate at which consumers fell behind on paying down credit card debt continued to generally improve in April, but the charge off rate seen by the nation's top lenders increased because of an anomaly with one issuer's schedule. Due to a quirk with its calendar, Citi had an additional three days in April to […]
The recent economic downturn caused many consumers to reassess the ways in which they dealt with credit card debt, and millions seem to have been successful in slashing their reliance on their accounts. Between 2007 and 2010, the amount of credit card debt carried by the average American family as a portion of their total […]
Though consumers are now being far more cautious about dealing with credit card debt, they are still relying on those accounts, and their debit cards, more often than cash when making purchases from retailers. Debit and credit, respectively, have both surpassed cash and checks as the most common type of payments at real-world retail stores […]
The amount consumers owed in credit card debt fell in April, in keeping with the recent trend of fluctuations in these balances from one month to the next. Consumers' balances on revolving credit accounts – that is, balances that can be added to and subtracted from between one month and another, most commonly associated with […]
These days, millions of senior citizens are struggling with credit card debt and other sizable balances that can make their lives more difficult in retirement. A number of reports have come out in recent months detailing the struggles seniors and Baby Boomers have faced in the last several years when it comes to dealing with […]
These days, millions of consumers remain uninsured or have healthcare plans that do not cover certain expenses, and these must be covered out of pocket. However, many are choosing to put the resultant bills on their credit cards, leading to more credit card debt. A recent survey by Demos found that close to half of […]
Now that the economy has made significant strides over the last year and a half and millions of consumers are once again feeling good about their personal finances, many might feel they are in a position to begin dealing with credit carddebt once again. As a result of this new trend, many major national retailers […]