There’s a clear preference for credit card installment plan versus buy now, pay later (BNPL) preferences by baby boomers and seniors. Of these surveyed consumers, 20% had used credit card installment plans heavily: five times or more over the three months previous to being surveyed,...
We’re spending money as fast as we can make it — and even faster, it seems. The latest government release from the Bureau of Economic Analysis (BEA) on personal income and outlays showed that personal income increased 0.2%, or $45 billion in July. The BEA also estimated...
Inflationary pressures have yet to abate fully, making it necessary for many United States consumers to adjust their lifestyles to live within their means. Even as consumers work hard to manage budgets and put aside savings, 61% lived paycheck to paycheck as of July 2023,...
As restaurant prices continue to rise, even the most enthusiastic diners are beginning to pull back on eating out and ordering in, PYMNTS research reveals. By the Numbers According to surveys carried out for PYMNTS’ “Connected Dining” series, as of June, only 7.4% of restaurant...
Consumers making between $50,000 and $100,000 may be caught in a middle-income “crunch” these days as inflation’s growth slows while still trending upwards, and real wages stagnate. While these issues plague all consumers, this demographic has the most consumers just making enough to get by while paying...
Americans credit card payment delinquencies are starting to pile up. Per the latest Federal Reserve report, credit card balances rose past $1 trillion for the first time in the survey’s history. But things aren’t that simple. “When we talk about consumers and credit, you really...
American consumers’ savings cushion is no longer that cushiony, according to new Federal Reserve research. The savings people accumulated during the pandemic, which at one point topped $2 trillion, are due to run out this quarter, the Federal Reserve Bank of San Francisco said in...
Versatile Credit, Nationwide Marketing Group (NMG) and Wells Fargo have partnered to launch The Finance Hub, a consumer financing portal for merchants. This new collaboration provides a comprehensive, tailored financing program for a broad range of consumers and simplifies the application process with Versatile Credit Cascade technology, the companies said in...
That having children is costly may not be surprising — but the extent to which parents with children depend on credit cards is. Proprietary research prepared for the July “New Reality Check: The Paycheck-to-Paycheck Report,” a PYMNTS collaboration with LendingClub, details which consumers are carrying...
