US Bancorp’s latest quarter showed continued growth in card balances, resilience in what it has termed its “differentiated business model” and credit quality metrics that were in line with expectations. CEO Andrew Cecere said on the conference call with analysts that the company experienced “good...
Consumer spending has remained strong despite elevated inflation, surprising many economists. However, there are concerns about credit card delinquencies and lenders’ net charge-offs, which could indicate whether consumers can keep up with their payments. The Philadelphia Fed reported that balanced-based credit card delinquencies in Q1...
Credit card delinquency rates fell last month as consumers continued to spend. As Seeking Alpha reported Sunday (April 28), the average delinquency rate dipped from 3.09% in February to 2.92% in March, though it has risen from 2.49% a year ago. The average is still...
Earnings season begins anew in just a few weeks, documenting the first few months of the year — and how the March quarter shaped up for all manner of enterprises. And for the payment networks, for the banks too, there may be some headwinds in...
February 21, 2023
If missed bill payments indicate consumers’ lacking economic security, we may be in for a bumpy ride. Last week’s news about January’s consumer spending sharply up from the previous month was a welcome change after seemingly endless gloomy economic forecasts. However, any celebrating may have been premature once disclosures about how consumers are paying for these purchases were also […]
October 26, 2022
Every earnings season tells a tale. So far the storyline is that consumers remain buoyant, are still willing to open their wallets and wield credit cards to get what they...
October 27, 2024
Consumers spent with confidence last month as retail sales climbed. And as Seeking Alpha noted in its “Credit Pulse” report Sunday (Oct. 27), much of that spending happened with credit cards, with loans at seven major card issuers increasing slightly — 0.4% month over month — to $40 billion. Delinquency rates climbed as well, though […]
July 29, 2024
Consumer spending has remained strong despite elevated inflation, surprising many economists. However, there are concerns about credit card delinquencies and lenders’ net charge-offs, which could indicate whether consumers can keep...
April 29, 2024
Credit card delinquency rates fell last month as consumers continued to spend. As Seeking Alpha reported Sunday (April 28), the average delinquency rate dipped from 3.09% in February to 2.92%...
March 25, 2024
Credit card delinquencies fell slightly last month while net charge-offs continued with their upward trajectory. That’s according to a report Monday (March 25) by Seeking Alpha, citing data from eight...
