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Bank’s Margins Suffer As US Consumers Pay Down Credit Card Debt

PYMNTS

consumers have been paying down payments on credit cards with the pandemic continuing to hamper spending opportunities, which has led to dramatically falling bank card loans, The Financial Times (FT) reports. billion in August compared with July, which is the lowest level since 2017. Revolving debt was down $9.4 That same month , J.P.

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US Consumers Pay Down $10B In Credit Card Debt In Q3

PYMNTS

According to the Fed’s latest quarterly report on household debt and credit, overall consumer debt hit $14.35 August was the six month in a row that saw a drop in consumer credit card balances, the lowest level since 2017. trillion, up $87 billion, a 0.6 percent increase over Q2. Mortgage debt hit $9.86 percent compared to 5.39

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Can Low Credit Card Balances Save Holiday Spending? Don’t Bet On It

PYMNTS

Consumers have cut back on travel, in-person entertainment and restaurant spend. Then they will use this newfound spending power to bring a new, vengeful spending strategy to the holiday season because, after all, the American consumer deserves a few gifts after all that they’ve been through this year. Here’s the scenario.

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New Data: 95 Pct. Of Consumers Don’t Use Mobile Wallets For In-Store Purchases

PYMNTS

Among its many profound impacts, the COVID-19 pandemic has dramatically altered how consumers shop. Even before large-scale stay-at-home policies went into effect, most consumers sought to limit direct contact with people and objects as much as possible when they went out. percent reported Walmart Pay usage. percent reported in 2019.

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Monetizing Analytics Features: Why Data Visualizations Will Never Be Enough

Think your customers will pay more for data visualizations in your application? Five years ago they may have. But today, dashboards and visualizations have become table stakes. Discover which features will differentiate your application and maximize the ROI of your embedded analytics. Brought to you by Logi Analytics.

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US Average FICO Score Hits 700: A Milestone for Consumers

FICO

FICO regularly tracks the national FICO Score distribution as an important gauge of US consumer credit behavior. US consumers continued to show improvement in managing their debts, which began shortly after the bottoming out of the economy in 2009-2010. of the population in October 2013 to 16.5% in April of this year.

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NEW DATA: How To Keep 24.4 Million Consumers From Hitting 'Unsubscribe'

PYMNTS

As stay-at-home COVID-19 mandates have forced consumers to be housebound, companies that rely on subscription models to deliver their products and services are reaping the benefits. These are only some of the findings from our research. The analysis is also cross-referenced with our survey of a census-balanced panel of 2,130 U.S.