34% of Consumers Haven't Heard of Card-Linked Offers – PYMNTS.com
Card-linked offers, or promotions aimed at encouraging consumers to use credit or debit cards, are very popular with consumers. That is, once you use it. According to PYMNTS Intelligence’s report, “Card-linked offer growth relies on first-time users,” 93% of cardholders plan to take advantage of a card-linked offer again in the near future after taking […]
Spirit Airlines CEO calls airline industry a ‘rigged game,’ US consumers are ‘long-term losers’
Spirit Airlines CEO Ted Christie has been outspoken about the airline industry, likening it to a game of match-fixing and saying American consumers are “long-term losers.” “Currently, almost all of the profits in the entire U.S. airline industry are concentrated in just two companies, while non-legacy airlines are racing to return to profitability,” Christie said […]
Consumers see higher auto payments in exchange for better borrowing rates
Car loan repayment terms have become shorter, but monthly payments have increased. (iStock) Experian recently found that rising interest rates are making long-term loans less attractive, even for borrowers with good credit. report. They’re making higher monthly payments over shorter terms in exchange for better interest rates, said Melinda Zabritsky, head of auto financial insights […]
Consumers Make Minimum Credit Card Payments as Inflation Takes a Bite – PYMNTS.com
In a sign of the continued pressure of the paycheck-to-paycheck economy, more consumers are making only minimum payments on their credit cards. And the debt on those cards is increasing. It’s becoming increasingly difficult to strike a balance between staying in credit card debt and falling into delinquency, so to speak. Delinquency is increasing. According […]
Biden DOJ takes aim at Apple even though consumers love it
LPL Financial’s chief technical strategist breaks down this week’s market trends and which sectors are worth investing in right now. Apparently, nothing irritates the Biden administration more than business success. Apple is the latest target in the Justice Department’s continuing crackdown on what it calls tech monopolies. The Department of Justice has already filed lawsuits […]
Consumers spend more than $1 trillion on interest payments, largely due to increasing credit card debt
Credit card debt will account for half of all interest paid in the final quarter of 2023. (iStock) Interest payments for U.S. consumers are orders of magnitude higher. Last quarter, consumers spent a record $1.1 trillion on interest payments alone. reported quartzusing data from the U.S. Bureau of Economic Analysis (BEA). More than half of […]
Why is Congress slashing funding for antitrust enforcement that protects consumers?
With all eyes on the 2024 election, President Joe Biden used this year’s State of the Union address to lay out his economic vision for America. In his speech, Biden reaffirmed his support for pro-business, pro-consumer, pro-competition policies. greedy inflation and price agreement. To make the administration’s vision a reality, it is critical that Congress […]
Swipe fees cost consumers an estimated $578 million on Valentine’s Day: Study
Swipe fees average 2.24% and are often passed on to consumers. (iStock) If a consumer used a credit card to purchase a gift on Valentine’s Day, they likely paid a high price. Swipe fees (fees charged by credit card issuers and issuing banks to retailers for processing debit and credit card transactions) will cost consumers […]
Retail sales rebounded in February, but consumers may be growing more cautious
Brenda O’Connor Juanas, senior vice president at UBS Wealth Management, and Luke Lloyd, investment strategist at Strategic Wealth Partners, discuss retail earnings, interest rate cuts, Bitcoin’s surge to record highs, February CPI and more . U.S. retail spending rebounded in February, but consumers may be more cautious as they continue to face high interest rates […]
High debt is causing more consumers to live paycheck-to-paycheck
Approximately 60% of consumers live paycheck to paycheck, primarily through debt and inflation. (iStock) Many workers are living paycheck to paycheck, with around one in three citing debt as one of the main reasons. According to a PYMNTS study. As of December, 60% of survey respondents said they were living paycheck to paycheck. This is […]