Credit card debt hit a record $1 trillion for the first time ever as more consumers lean on their cards for everyday living.  While credit cards offer consumers a myriad of benefits, including convenience, rewards and cash back bonuses, there can be mistakes made that affect the rewards you’re reaping,…

A growing number of Americans with subprime scores opened up new credit card accounts last year despite the high price they had to pay to borrow, according to a recent survey. Subprime accounts made up 38% of the new accounts opened in the third quarter of 2022 – an increase…

A growing number of Americans are falling behind on their monthly credit card payments, a trend that may be a harbinger of economic troubles ahead, according to a new report from Wells Fargo.  Findings from the bank indicate that credit card delinquencies are surging among commercial banks – particularly at…

Americans are dealing with rising prices as they begin their back-to-school shopping, and more are turning to credit cards to make ends meet, a recent survey said.  Almost three-quarters of Americans expect the costs of sending kids back to school this year to be challenging, with most expecting to pay…

More Americans feel optimistic about their finances even as many have had to rely on debt to deal with lingering inflation and rising costs, according to a recent survey. Overall, 50% of Americans said they felt positive about their current financial situation and 22% believe their financial situation will improve…

Credit card debt soared to a new record in the second quarter of 2023, but consumer credit remains strong and could spell a “smooth landing” for the U.S. economy, according to VantageScore President and CEO Silvio Tavares. Credit card debt topped $1 trillion in the second quarter of 2023, according…

Subprime borrowers that saw their credit scores boosted by pandemic-era stimulus savings are reverting to bad payment behaviors, a recent report said. A combination of federal government pandemic relief, unemployment benefits, and lower credit utilization during the COVID-19 lockdowns helped Americans build roughly $2.3 trillion in savings. The savings and pandemic-era…

When it comes to personal finances following the pandemic, Americans are divided into two categories – some have emerged with little debt, and others are drowning in it, according to a Northwestern Mutual survey.  More than one-third of Americans (35%) said they are carrying their highest level of debt ever or…

Americans are drowning in credit card debt as stubborn inflation makes the cost of everyday necessities more expensive.  The New York Federal Reserve Bank’s Quarterly Report on Household Debt and Credit, slated for release on Tuesday morning, is expected to show that credit card debt soared to a historic $1…

Inflation and rising prices are why 31% of Americans said they maxed out their credit cards over the past two years, according to a recent survey. Skyrocketing costs also pushed 51% of Americans to increase their reliance on credit cards, and why balances have surged in that time period, the Debt.com survey…