US debt default could send mortgage rates soaring above 8%
The U.S. housing market could tumble into a deep freeze if Congress fails to raise the debt ceiling by June 1 and defaults on its financial obligations.
Venmo launches supervised teen accounts
For the first time, teens between the ages of 13 and 17 years old will be able to have their own Venmo account. However, they will come with various parental controls.
Household debt hit record $17T last quarter as inflation squeezes Americans
New York Federal Reserve data released Monday shows household debt hit a fresh record in the first quarter of 2023 as high inflation squeezes Americans.
Many Americans eye buy now, pay later to gain more financial flexibility: Survey
Nearly half of Americans (46%) said they would also consider BNPL an alternative financing method to credit cards or cash, according to a recent survey.
Jamie Dimon warns US debt default is 'potentially catastrophic,' says JPMorgan has a 'war room'
JPMorgan Chase CEO Jamie Dimon on Thursday urged Congress to raise the debt ceiling, warning a default has "catastrophic" implications for the economy.
First Republic collapse adds to credit crunch woes for Americans
Upheaval within the banking sector has raised the risk of a "credit crunch" in the U.S., which would make lending standards drastically more restrictive.
Americans using buy now, pay later to afford groceries, other necessities
Bankrate.com senior industry analyst Ted Rossman discusses the evolution of "buy now, pay later" and the risks posed to consumers.
What happens when you close a credit card?
The decision to close a credit card can be sparked by streamlined finances or wasted benefits, but there are also some negative factors to be considered.
Small businesses struggling to get credit after SVB collapse
An NFIB survey of small businesses found that more owners are having difficulty getting a loan after the collapse of Silicon Valley Bank in early March.
Should you ask your credit card issuer for a credit limit increase? Here are the pros and cons
Increasing your credit spending limit allows you more spending power, but introduces more risks. Requesting a high credit limit isn't difficult, but there are factors to consider.
Apple Pay Later launches after a six-month delay
Apple announced the soft launch of its long-awaited buy now, pay later service option for Apple Wallet.
How the banking crisis could hammer small businesses
Upheaval within the banking sector has raised the risk of a "credit crunch" in the U.S., which would make lending standards drastically more restrictive.
Apple launches its own buy now, pay later service
Apple launched its own buy now, pay later service, which will allow users to spread out payments without interest amid a time when uncertainty around the economy grows.
Banking crisis threatens to ignite credit crunch for US households: What to know
Upheaval within the banking sector has raised the risk of a "credit crunch" in the U.S., which would make lending standards drastically more restrictive.
More people are delaying paying up front
Consumers are increasingly relying on Buy Now, Pay Later services in order to cover the costs of their daily expenses amid the uncertain economic environment.
Auto loan interest rates hovered below 8% for borrowers with subprime credit scores: CUNA
Auto loan median interest rates sat at about 8% for people with low credit scores, according to a report by CUNA. Here's how you can lower your monthly car payments.
Buy now, pay later users more likely to experience financial distress: CFPB
Buy now, pay later users are more likely to rely on other credit products and high-interest rate financial instruments than non-users of BNPL, a recent Consumer Financial Protection Bureau (CFPB) report said.
Visa, Mastercard pause crypto push in wake of industry meltdown
Visa, Mastercard and American Express are pulling back from partnerships with crypto platforms after FTX and BlockFi going bankrupt rocked the blockchain industry.
Credit card delinquency rates for new users were higher than for those with established credit
Credit card delinquency rates have been trending higher for new credit users, according to a TransUnion report. High inflation and a volatile interest rate environment may cause delinquency rates to increase in the U.S. in 2023. Here’s how to pay down high-interest debt quickly.
Household debt skyrockets to highest level since 2008 financial crisis
U.S. households are racking up debt as they confront rising interest rates and high prices for everyday necessities, according to a WalletHub analysis.