Analytics

The U.S. credit card charge-off rate rose slightly in July, but delinquencies fell again to an all-time low as consumers continued to demonstrate discipline in making on-time payments, Moody’s Investors Service said in a report released Aug. 19.

Credit card charge-offs have been plunging since the middle of last year, moving against the tide of an anemic jobs environment but supported by slowing bankruptcies.

During a downturn, consumers are much more likely to use–and to repay–general-purpose credit cards than retail cards, and pretty much every major retail issuer tried to bail out of the business at some point over the last few years.

New York Attorney General Eric Schneiderman's office reported Tuesday that an agreement is in place with a finance company to clear $3.5 million in debt for nearly one thousand soldiers.

VantageScore Solutions LLC, a joint venture of the three credit rating agencies, has prevailed against Fair Isaac Corp. in a lawsuit that alleged antitrust, trademark infringement and false advertising.

After marching downward for more than a year, the average charge-off rate for U.S. consumer credit cards may show an increase for July because two issuers have reported one-time spikes in card-account defaults, a Moody’s Investors Service analyst tells PaymentsSource.

Credit card delinquencies fell to their lowest point in 17 years in the second quarter as consumers remained cautious about taking on more debt and issuers continued their conservative approach to lending, TransUnion Corp. said Aug. 16.

U.S. consumers continue to show greater discipline in making on-time credit card payments compared with their mortgage payments as part of a phenomenon that began with the most recent recession, new Experian data show.

Experian released findings Friday on the credit card and mortgage payment behaviors of consumers both nationally and in the top 30 Metropolitan Statistical Areas (MSAs).

Consumer bankruptcies fell 18% nationwide in July compared with July 2010, according to the American Bankruptcy Institute, which pulls the data from the National Bankruptcy Research Center.

The U.S. government’s debt-negotiation struggles and the resulting stock market chaos following Standard & Poor’s Aug. 5 downgrade of the country’s sovereign debt likely will cause a “hiccup” in consumer credit card spending just as it was beginning to recover, a First Data Corp. executive tells PaymentsSource.

Visa Inc. plans to accelerate the U.S. migration to EMV contact and contactless chip technology, the card brand announced Aug. 9.

TransUnion Corp. on Monday reported revenue of $257.5 million for the second quarter ended June 30, an increase of 8.5% compared to the year-ago period. Of the increase, 1.4% was a result of the impact of strengthening foreign currencies.

Bank stocks outpaced losses in the broader market Monday, following a familiar pattern. The volatility is likely to continue as the industry tries to earn its way past doubts about capital strength.

Consumer bankcard and private-label credit card account defaults declined again in May, reaching lows not seen in more than two years as the economy continues to stabilize, according to new data from Fitch Inc.

The recession continues to have a firm grip on U.S. credit cardholders as fewer Baby Boomers own premium cards and consumers of all ages are more likely to carry decreased balances or no balances at all, a new survey report indicates.

FICO, provider of the ubiquitous credit scores, said this week fiscal third quarter net increased almost 30% to $23.2 million, despite a 3% drop in revenues.

Consumers filed an estimated 524 consumer statute lawsuits in the first half of July, down from 567 in the second half of June.

In what it is calling a return to decades-old marketing tactics combined with new technology, credit-score giant FICO this week introduced a product designed to target credit card customer prospects more effectively in a sluggish market.

FICO, provider of the ubiquitous credit scores, on Wednesday said fiscal third quarter net increased almost 30% to $23.2 million, despite a 3% drop in revenues.