Buy now, pay later debt grows but is hidden from credit bureaus

May 13, 2024
Adobe Analytics projects that buy now, pay later loans could drive as much as $84 billion in spending in 2024. But the debt shoppers are racking up is basically hidden from credit bureaus, lenders and economists.
Consumers are increasingly opting for buy now, pay later options. And that debt is basically invisible to credit bureaus and lenders.
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Forward-looking economic indicators turn positive

Mar 22, 2024
The Conference Board's Leading Economic Index turned positive in February for the first time since February 2022. That's a sign that the economy will avoid a recession this year, even if it slows down.
Stock prices, manufacturing orders, credit availability and other indicators all give us hints about future economic activity.
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Latest figures show rising consumer debt

Jan 9, 2024
Debt levels are rising and interest rates remain high. Delinquencies are also on the rise.
Credit card interest rates are the highest they’ve ever been.
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Credit card debt is rising. Again.

Feb 20, 2023
Card debt, which fell during the pandemic, is at a record $986 billion, according to the New York Fed. Delinquencies are rising too.
Though expanding credit card debt may represent a return to normal, the "pre-pandemic normal ought to concern Americans," says Aaron Klein at the Brookings Institution.
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Consumer debt is becoming more of a burden

Feb 7, 2023
Consumer debt levels have been rising. While wage gains have helped people pay off debt, those gains have been slowing down.
The Fed's consumer credit report, due out today, will show whether people are continuing to take on more and more debt.
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Consumer credit is up almost 7% since this time last year

Dec 8, 2022
Credit card balances alone were up 15% in the third quarter. Higher prices for necessities and higher interest rates are contributing factors.
Credit card balances alone were up 15% in the third quarter.
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Black Friday riddle: Consumers are financially stressed, but still spending

Nov 25, 2022
Their debt levels are rising as the holiday shopping season ramps up. It helps that unemployment is low.
Black Friday shoppers take a moment to rest in massage chairs at the Opry Mills mall in Nashville, Tennessee.
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Using coronavirus relief to pay down credit cards

Aug 6, 2020
Credit card debt was down by $76 billion in the second quarter, the steepest decline in card balances since tracking started.
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Consumer spending rises, along with consumer debt

Aug 30, 2019
The U.S. Commerce Department delivered new evidence on Friday that the American consumer is helping to fuel economic growth.
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U.S. household wealth hits record high

Jun 7, 2019
A new report from the Federal Reserve finds the net worth of American households and nonprofits reached almost $109 trillion.
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