N.Y. Fed: Credit Approval Rates Rise in 2019
Individuals who have applied for credit reported higher approval rates in 2019 than in 2018, according to the Federal Reserve Bank of New York’s latest Credit Access Survey released today.
Browsing: Credit cards
Boston Fed Researchers: CARD Act Limited Young Adults’ Ability to Build Credit
The 2009 Credit CARD Act may have hindered young adults’ ability to build credit histories, according to a new paper released by the Federal Reserve Bank of Boston.
Small Biz Credit Card Users More Satisfied, More Likely to Switch than Consumer Credit Card Users
While small business credit card customers report significantly higher satisfaction with their credit cards than consumer credit card customers, they are twice as likely to switch to another brand, according to a J.D. Power survey released this week.
ABA Submits Feedback on Proposed Income Inclusion Regulations
ABA this week filed a comment letter on regulations proposed by the IRS on the timing of income inclusion under Section 451 of the Internal Revenue Code, as required by the tax reform law.
Household Debt Continues to Increase
Outstanding household debt increased by 0.7% in the third quarter of 2019, rising by $92 billion to land at $13.95 trillion, the Federal Reserve Bank of New York reported today.
Credit Card Use Rebounds in Second Quarter
Credit card use rebounded in the second quarter of 2019, after moderating in the first quarter, according to the American Bankers Association’s latest Credit Card Market Monitor released today.
Credit Card Delinquencies Fall, Other Delinquencies Edge Up
Delinquencies were mixed in the second quarter, with delinquencies falling for bank cards while rising for the composite index of closed-end loans, according to the American Bankers Association’s Consumer Credit Delinquency Bulletin released today.
CFPB: Total Credit Card Balances Reach $900B in 2018
Demand for credit cards remains relatively stable and banks are introducing new technologies like AI and chatbots into the payments experience, according to the biennial Credit CARD Act report released by the Consumer Financial Protection Bureau today.
J.D. Power: Issuers Could Improve Communication About Credit Card Benefits
A lack of understanding about credit card rewards offerings may affect consumers’ satisfaction with their issuer, according to the J.D. Power 2019 Credit Card Satisfaction Study released today.
Household Debt Continues to Climb
Outstanding household debt increased by 1.4% in the second quarter of 2019, rising by $192 billion to land at $13.86 trillion, the Federal Reserve Bank of New York reported today.