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UK Credit Card Trends: From 2008 Crash to Cost-of-Living Crisis

FICO

UK Credit Card Trends: From 2008 Crash to Cost-of-Living Crisis. Changes in card management, customer behaviour and regulations make card delinquencies and other trends very different from the crash of 2008. In 2008, it reached a peak of 4.5%. In 2008 it was 5.25% with 4.62% in 2009. Darcy Sullivan. by Liz Ruddick.

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Card Companies Cut Credit Lines As Customers Skip Payments

PYMNTS

Hard times are hitting many people where it hurts – right in the credit cards they carry in their wallets or eWallets. Customer spending limits are being cut by top credit card companies. Discover Financial Services said in a regulatory filing that more of its customers are asking to skip payments.

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US Household Debt Hits All-Time High

PYMNTS

However, credit card balances have dropped compared to before the coronavirus pandemic. That decrease in credit card balances comes even as the credit limits have been increased by $34 billion, leaving $3 trillion available in credit card lines. Student loan debt now sits at $1.54 percent, CNBC reported.

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Addressing Portfolio Risk in Economic Uncertainty: Part 3 (2022)

FICO

During the pandemic, systemic financial assistance programs such as federal stimulus payments and the availability of lender-provided payment accommodations undoubtedly prevented and helped manage the dramatic increases in delinquencies and losses we witnessed in 2008-9. inflation, geopolitical instability, ongoing supply chain issues).

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Sub-Prime Lending’s Late-Year Bounce

PYMNTS

Issuers, according to the data, offset the risk in delinquencies or defaults brought along by lower credit score borrowers by reducing credit limits for such consumers. household debt recently sailed past the record level it held in 2008 just before the big crash, hitting $13.5 Sub-prime issuing also ticked up 3.6

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Stripe Teardown: How The $35B Payments Company Plans To Supercharge Online Retail

CB Insights

Growing the internet economy. Stripe Payouts and Stripe Issuing facilitate the movement of money with instant cashouts for gig economy workers and virtual card issuance, respectively. Stripe is focused on capturing a growing share of future payments volume in an increasingly internet-based economy. Virtual card issuance.

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How to Address Portfolio Risk Volatility Through Economic Uncertainty - Part 3

FICO

Undoubtedly, systemic financial assistance programs such as federal stimulus payments and the availability of lender-provided payment accommodations have prevented the dramatic increases in delinquencies and losses we witnessed in 2008-9. Figure 5 repeats the above exercise, but this time we apply the approach to the stressed economic period.

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