Red Flag: Consumers Are Using Buy Now, Pay Later to Cover Everyday Expenses Buy Now, Pay Later installment plans have become popular among consumers seeking to spread out the cost of big-ticket purchases. But now, rising prices have some cash-strapped…
To Cope with Record Inflation, Americans Have Opened Up a Record Number of Credit Cards As Americans grapple with the highest inflation in 40 years, the number of new credit cards have surged as more Americans rely on them to…
Average Credit Card Interest Rates Have Topped 20% Rising interest rates have pushed the annual percentage rates on credit cards to new highs. The average annual percentage rate on a new credit card is now more than 20%, according to…
People Who Use Mobile Payments Are More Likely to Overspend Whether it’s Apple Pay or Google Pay, many of us now use our mobile phones for contactless payments while we’re out and about. But a new study may make you…
Struggling to Pay Bills, More Americans Turn to Credit Cards and Loans Inflation in the U.S. is more than three times higher than it was last year, straining Americans’ finances. Without stimulus checks and a lapse in monthly Child Tax…
Fed Signals It Will Likely Hike Interest Rate in March to Curtail Inflation The Federal Reserve is taking off the gloves in its bid to fight a historic surge in inflation. The Fed held its key interest rate near zero Wednesday…
Mobile Payment Apps, Cryptocurrency Grow in Popularity An increasing number of consumers are using mobile payment apps and owning cryptocurrency. According to a new survey, adoption and usage of mobile payment apps are growing. Only 14% of respondents reported not…
Banks Are Making It Easier to Get Credit Cards Lenders are again welcoming borrowers with less-than-pristine credit, a vote of confidence in the health of the U.S. economy and Americans’ finances. An estimated 29.2 million general-purpose credit cards were issued…
Buy Now, Pay Later Companies Get Caught Up in CFPB Probe Washington, D.C. is ratcheting up the pressure around the payments craze that is buy now, pay later. The CFPB has opened up an inquiry into the model more commonly…
