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Credit Cards

Consumers are gravitating back to plastic for spending splurges

by Matt Levin
Jul 8, 2021
The Federal Reserve said total consumer credit rose by 10% in May. And lenders issued roughly 6 million new credit cards in March, according to Equifax.
As the economy reopens, American consumers are falling back in love with plastic.
Oliver Douliery/AFP via Getty Images
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As consumers get out more, they may also reach for credit cards

by Caroline Champlin
Jul 8, 2021
Outstanding credit card balances have been down, but people may start racking up the debt again.
People are going out more and making bigger purchases, and with credit card interest rates still high, balances might shoot back up.
Scott Olson/Getty Images
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As consumers pay off credit card debt, banks are likely to offer credit incentives

by Justin Ho
Jun 1, 2021
Banks are already stepping up marketing campaigns to try to get more consumers to use their services.
Since people have been good about paying off their balances, consumers’ credit scores have improved, says Andrew Davidson, who follows credit cards at Comperemedia.
AsiaVision via Getty Images
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FDIC says credit card balances dropped in Q1

by Justin Ho
May 27, 2021
Sure, we're putting some purchases on credit cards, but we're still not getting out the plastic for big travel expenses.
Spencer Platt/Getty Images
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Bank accounts could soon help determine creditworthiness

by Kristin Schwab
May 13, 2021
Some big banks will give credit cards to people who lack credit scores, looking instead at savings and checking account history.
Fizkes via Getty Images
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Why credit card limits could rise this year

by Justin Ho
Feb 26, 2021
Lenders aren't quite as nervous about consumer finances anymore, and they're anticipating a boom in consumer spending.
Credit card companies hope that increased credit limits will create more outstanding balances, meaning more revenue for them.
Joe Raedle/Getty Images
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COVID-19

Early in the pandemic, fewer Americans paid their credit card bills late

by Justin Ho
Jan 26, 2021
Government relief checks helped.
Last year's federal relief payments contributed to American households' ability to pay down their credit card obligations in the second quarter.
Violeta Stoimenova via Getty Images
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Italy launches app with incentives to get consumers to go cashless

by John Laurenson
Jan 18, 2021
In its battle against tax evasion, the government wants more Italians to change their payment method.
The Italian government is discouraging the use of cash and encouraging purchases by credit card to help it collect taxes.
Ridofranz via Getty Images
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Credit card debt is falling. That's good news — and bad news

by Justin Ho
Nov 19, 2020
It's good news for our personal economies, but it means we're not spending as much to prop the economy as a whole.
One expert says retail spending is losing steam right as the critical holiday shopping season is ramping up.
Olivier Douliery/AFP via Getty Images
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COVID-19

Travel rewards credit cards add more everyday perks like Uber Eats

by Justin Ho
Oct 27, 2020
Cards that once lured in customers with travel perks are now focusing on spending that’s closer to home during the pandemic.
Some cards with high annual fees are starting to switch from rewards on travel and hotels to discounts on things like takeout and groceries.
Dia Dipasupil/Getty Images
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