Consumer Finance

Consumer Finance
BNPL and Financial Education Unlock Opportunities for Credit-Insecure Consumers 
November 13, 2023

While credit rules may vary in other countries, in the United States, having a good credit score is the passport to securing a mortgage, a car loan, or student loan. Basically, it’s not just a nice-to-have — it’s a near-basic necessity.  But as noted in...

Consumer Finance
34% of Consumers Say the Pressure to Tip Is Out of Control
November 13, 2023

Imagine being at the checkout, set to pay for a snack you’ve just grabbed. Suddenly, the digital screen of the point-of-sale system lights up, suggesting a tip amount significantly higher than your usual practice. The pressure intensifies when someone in line is watching, peeking at...

Consumer Finance
Nearly 60% of Consumers Without Paycheck Pressures Have a Side Hustle Just For Fun
November 09, 2023

Inflation has heightened the cost of living, prompting consumers, especially those living paycheck to paycheck, to look for extra ways to supplement their regular income. In The Supplemental Income Edition of the “New Reality Check: The Paycheck-to-Paycheck Report,” PYMNTS Intelligence draws on insights from a...

Consumer Finance
What Are the Best Tactics to Improve Credit Scores? 
November 02, 2023

Generally speaking, the higher your credit score, the more favorable interest rates and terms you can benefit from when getting a loan.  The scoring model FICO ranges from 300 to 850. A “good” score generally is above 670, a “very good” score is over 740,...

Consumer Finance
LendingTree: Consumers Seek Loans but Credit Availability Has Contracted
October 31, 2023

LendingTree continued to be affected by high interest rates and consumers having difficulty accessing credit in the third quarter. During the quarter ended Sept. 30, the online lending marketplace’s revenue totaled $155.2 million, down 35% from the same quarter a year earlier, according to a shareholder letter released...

Consumer Finance
Consumers Deplete Two-Thirds of Their Savings Every Four Years
October 30, 2023

Living paycheck to paycheck continues to be the predominant financial lifestyle in the United States. As of September 2023, 62% of consumers live paycheck to paycheck, with 22% struggling to pay their monthly bills. Despite efforts to manage budgets, consumers across financial lifestyles report putting...

Consumer Finance
Are High-Income Consumers Poised to Pull Back and Trade Down?
October 27, 2023

The latest reading on consumer sentiment signals that high-income consumers may embrace a few strategies to deal with concerns over inflation and dwindling stock portfolios. Tactics include cutting back, trading down — and perhaps embracing buy now, pay later as the tool that helps them...

Consumer Finance
Millennials Turn to Deferred Payments to Spend More
October 27, 2023

Millennials and bridge millennials most frequently turn to deferred payments for purchasing consumer items. These consumers are generally considered to have been born between 1980 and 1989, and between 1990 and 1999, respectively. As PYMNTS has found, they are also the highest spenders on average,...

Consumer Finance
Capital One Reports Delinquency Rate Back to Pre-Pandemic Level
October 26, 2023

The delinquency rate in Capital One’s domestic card business continued to rise in the third quarter and has returned to its pre-pandemic level. The 30-day performing delinquency rate in the domestic card business was 4.3% during the quarter ended Sept. 30, up from 3.7% in the...