During the first quarter of the year, consumers continued to cut the balances they carried overall, particularly slashing their credit card debt and mortgage balances, but still sought out new lines of student loan financing. The total amount of money consumers owed on all their outstanding lines of credit slipped once again in the first […]
A number of economic factors may lead more consumers to curtail their spending and in doing so make continued efforts to reduce their outstanding credit card debt. Recent statistics from the Conference Board shows that consumer confidence fell between April and May, and that might have a negative impact on borrowers' credit card use in […]
These days, millions of Americans are seeking new types of accounts that will reward them more handsomely for taking on credit card debt, and some of the most popular cards now have increased rewards for airline miles and other travelarrangements. The airline and hotel industries alone now issue more than $50 billion worth of credit […]
Consumers have been very conscientious in making sure to reduce their outstanding credit card debt over the last few years and now stand in far better financial positions since the end of the recession. Balances on consumer credit cards issued by financial institutions stood at $531 billion in April, according to the latest National Consumer […]
Millions of Americans are now happily taking on credit card debt because their accounts will grant them points, cash back or airline miles for doing so, and half of those making summer travel plans will redeem those perks to make their vacations more affordable. About 50 percent of all consumers planning to take a trip […]
These days, more consumers are making business related purchases as part of their jobs, but fewer are doing so using their personal accounts, as many may be trying to avoid increased credit card debt. Today, 21 percent of credit card users say they make business purchases as part of their job – up from 17 […]
Since the end of the recession, many Americans have been shy about taking on credit card debt, but in many cases, those who do are now doing so through the use of rewards accounts. Though attitudes toward credit card borrowing have changed considerably in the last few years, rewards accounts remain extremely popular with both […]
The way in which consumers handled their credit card debt issued by one of the nation's top lenders was a bit of a mixed bag in April. The latest regulatory filing with the Securities and Exchange Commission by Capital One Financial shows that while the company once again saw instances of credit card payments that […]
The federal agency tasked with helping protect consumers from troublesome loan agreements and credit card debt is still focused on making contracts for cards easier to understand. Even as the federal Consumer Financial Protection Bureau has tackled a number of other credit-related issues facing Americans, it has not forgotten its task of simplifying credit card […]
On a year-over-year basis, the amount of credit card debt carried by consumers increased significantly, reversing months of downward trends. The amount of credit card debt held nationwide surged in March, rising 7.8 percent on an annual basis, to a total of $803.6 billion, according to the latest monthly statistics from the Federal Reserve Board. […]