Smart Borrower Blog

Archive for the ‘Other Loans’ Category

U.S. Consumer Borrowing Growth Slows to 3-Year Low

Feb 15th, 2017 @ 1:39 PM by Amber Nelson

Even though American consumers continued to spend more money in December than they did in November, the increase was much lower than expected and the slowest pace since 2013. According to figures from the Federal Reserve, consumer debt increased by $14.2 billion in December 2016 from the month before. That is significantly below the $20 […]

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New Credit Card Accounts Jumped in 2016 Third Quarter

Feb 1st, 2017 @ 9:09 PM by Amber Nelson

American consumers took on more credit card debt and signed up for more cards in the third quarter of last year, according to a new report  from the American Bankers Association. The ABA’s January 2017 Credit Card Market Monitor – a report on credit card data from July to September 2016 – showed that the […]

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Credit Card, Auto Debt Delinquencies Rise in 3rd Quarter

Jan 11th, 2017 @ 9:22 PM by Amber Nelson

While still at historically low levels, U.S. consumer debt delinquency rates rose in the third quarter of last year, according to data from the American Bankers Association. The increases were led by jumps in auto loans and bank card loans delinquencies. The ABA Consumer Credit Delinquency Bulletin found that a composite ratio of delinquencies (late payments […]

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Alaska Tops List of 2016 Heaviest Credit Card Debt Loads

Dec 22nd, 2016 @ 1:32 PM by Amber Nelson

The rankings are out for the U.S. states that carried the heaviest credit card debt in 2016, and Alaska is at the top while North Dakota is at the bottom, according to CreditCards.com. “The variability between the best and the worst state is high” when it comes to handling debt, said John Pelletier, director of […]

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Credit Card Delinquencies Rise among Subprime Borrowers, Energy States

Oct 26th, 2016 @ 7:36 PM by Amber Nelson

Americans with less-than-perfect credit are falling behind on their payments at a rapid rate, according to new data from credit reporting agency TransUnion, while those in states dependent on energy markets are also seeing rising credit card delinquencies. Subprime credit card accounts originated in 2015 now have a 2.95 percent 90-day delinquency rate, a large […]

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Subprime Consumers Access to Credit Reaches 5-Year High

Sep 28th, 2016 @ 8:04 PM by Amber Nelson

Credit card limits for those with bad to worst credit rose in the first half of 2016 to the highest level in over five years, according to new data from the Experian Market Intelligence Brief, a development that brings mixed economic signals. Total credit card limits for those with subprime or deep subprime credit scores […]

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Credit Card Use is on the Rise, But Not among Millennials

Aug 17th, 2016 @ 8:37 PM by Amber Nelson

Americans are charging more purchases to their credit cards, according to new data from the Federal Reserve, but that trend does not include the nation’s youngest generation of spenders – Millennials. The Federal Reserve Bank of New York reported Tuesday that household debt rose $35 billion, or 0.3 percent, in the second quarter of 2016, […]

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Consumers Push Mortgage, Credit Card Delinquencies Lower

Jul 7th, 2016 @ 8:21 PM by Amber Nelson

U.S. consumers continued to manage their debts better in the first quarter, according to the latest report from the American Bankers Association, with delinquencies falling in seven of the 11 tracked loan categories. “More people have jobs, wages are higher, home values have increased and consumers didn’t overextend themselves during the holiday season,” said James […]

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Study: Credit Cards Can Lead to Better Jobs

Jun 22nd, 2016 @ 7:47 PM by Amber Nelson

When Americans lose their jobs, having a credit card with a sizable limit may be the key to finding not just a new job, but a great job, according to a recent study from the National Bureau of Economic Research (NBER). Using data from 5 million TransUnion credit reports between 2001 and 2008, and information from […]

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Consumers Taking on More Debt and Handling It Better

Jun 1st, 2016 @ 8:41 PM by Amber Nelson

U.S. consumers increased their overall debt load during the first quarter of 2016, according to new data from the New York Federal Reserve, and so far they seem to be keeping up with their payments better than the previous quarter. The Federal Reserve Bank of New York’s Quarterly Report on Household Debt and Credit found that […]

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