Credit card companies see big opportunity in small business spending

May 17, 2024
Small business spending has been fairly slow recently, according to American Express. But credit card companies see a lot of potential in the market.
The competition for business owners’ wallets has been heating up, despite today’s subdued spending environment.
visualspace via Getty Images

Gen Z is taking on more credit card debt

May 9, 2024
The credit bureau TransUnion is out with a report showing that borrowers aged 22 to 24 are carrying an average of $2,834 in credit card debt — about a quarter more than millennials in the same age range a decade ago.
Adjusted for inflation, members of Gen Z ages 22 to 24 are carrying roughly a quarter more debt than millennials in the same age range a decade ago.
Matt Cardy/Getty Images

A cap on credit card fees would hurt department stores most

Apr 29, 2024
Charge cards have become an important piece of the bottom line for department stores, including Nordstrom, Macy’s and Kohl’s.
It's often easier to get approved for a store card than a bank-issued card, but interest rates are higher.
Michael M. Santiago/Getty Images

The fees war between retailers and credit card companies is heating up

Feb 26, 2024
Merchants paid $126 billion in credit card fees in 2022, up 20% from the year before. The pushback is playing out in lobbying campaigns and Congress.
Merchants from gas stations to ice cream shops to Amazon have complained about credit card fees and contracts, and many are lobbying for credit card regulation.
Justin Sullivan/Getty Images

Buying Discover would make Capital One bigger — and give it a payments network

Feb 20, 2024
There are only four such networks for credit cards, and building a new one can take decades.
Buying a payments network is a lot easier than starting one, says Andrew Davidson with Comperemedia.
Scott Olson/Getty Images

Larger credit card issuers charge higher rates than smaller ones

Feb 16, 2024
Consumers often choose a familiar name, despite the costs. The CFPB's findings come as credit card debt in the U.S. is rising.
The median interest rate that larger issuers offered to customers with good credit is 28%, according to the Consumer Financial Protection Bureau.
Justin Sullivan/Getty Images

Latest figures show rising consumer debt

Jan 9, 2024
Debt levels are rising and interest rates remain high. Delinquencies are also on the rise.
Credit card interest rates are the highest they’ve ever been.
Matt Cardy/Getty Images

For public good, not for profit.

The long-expected consumer pullback may finally be materializing

Nov 29, 2023
We spent more over the holiday, but we bought less — thanks to inflation.
While consumers spent a couple percent more this Black Friday weekend than last, they didn’t necessarily buy more.
Yuki Iwamura/AFP via Getty Images

Loan applications are down, rejections are up. This could be good for taming inflation.

Nov 20, 2023
The application rate for any kind of credit dropped to just over 41% this year from nearly 45% in 2022, according to a Fed survey.
Justin Sullivan/Getty Images

Americans have almost $990 billion in credit card debt

Jun 9, 2023
But with interest rates high and wage growth slowing, that level of spending is becoming unsustainable.
Between early 2021 and mid-2022, about 10 million people got credit cards who hadn’t had them before.
Olivier Douliery/AFP via Getty Images