Credit cards
Credit cards
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Balances reached nearly $1 trillion at the end of the first quarter, up 17% from a year earlier. The increase reflects higher spending by well-off consumers on travel and entertainment, as well as the pressure that lower-income households are facing from inflation and higher interest rates.
May 15 -
Delinquency rates in credit cards, auto and personal loans are effectively back to normal after three years of unusually strong credit performance. Industry executives say the current situation is easily manageable, but they do anticipate that key metrics will continue to worsen.
May 11 -
Card balances fell by 1.5% in the first quarter from the previous three months, according to data released by TransUnion. Balances remain near a record high and are up 19% from a year earlier.
May 11 -
The retail behemoth alleged in a lawsuit last month that Capital One fell short on customer service. But the McLean, Virginia-based bank says ending the partnership would open a path for a rival offering from a Walmart-backed fintech venture.
May 9 -
Discover, Capital One and other issuers began effortlessly reaping strong deposit inflows months before the banking crisis. The trend may not last much longer.
May 2 -
The credit card firm attracted new business in part from the consumers who were moving their funds over from traditional banks.
April 27 -
The card network has a new policy to determine who pays when consumers dispute certain e-commerce transactions, but many smaller sellers are unaware of new requirements and may run afoul of them.
April 24 -
Despite slower new-account growth, the card network had healthy overall sales, loan growth and deposit inflows in the first quarter. The performance gave credence to its ambitions to become a digital banking giant.
April 20 -
The card network says it is prepared to act on any new demand created by the recent banking crisis or possible economic downturn even though it reported slower growth in small-merchant card spending in the first quarter.
April 20