Credit Cards

Small business spending has been fairly slow recently, according to American Express. But credit card companies see a lot of potential in the market.

The credit bureau TransUnion is out with a report showing that borrowers aged 22 to 24 are carrying an average of $2,834 in credit card debt — about a quarter more than millennials in the same age range a decade ago.

Charge cards have become an important piece of the bottom line for department stores, including Nordstrom, Macy’s and Kohl’s.

Merchants paid $126 billion in credit card fees in 2022, up 20% from the year before. The pushback is playing out in lobbying campaigns and Congress.

There are only four such networks for credit cards, and building a new one can take decades.

Consumers often choose a familiar name, despite the costs. The CFPB's findings come as credit card debt in the U.S. is rising.

Debt levels are rising and interest rates remain high. Delinquencies are also on the rise.

We spent more over the holiday, but we bought less — thanks to inflation.

The application rate for any kind of credit dropped to just over 41% this year from nearly 45% in 2022, according to a Fed survey.

But with interest rates high and wage growth slowing, that level of spending is becoming unsustainable.