Smart Borrower Blog

Archive for the ‘Other Loans’ Category

Subprime Auto Default Could Lead to Other Defaults

Apr 19th, 2017 @ 8:57 PM by Amber Nelson

Roughly 17 percent of U.S. consumers believe they will default on an auto loan payment over the next 12 months, fueling concerns that defaults on subprime auto loans are affecting more of the economy than predicted. According to a new survey from the UBS Evidence Lab, only about 16 percent of all current car loans […]

more »

Credit Card Debt Nears Pre-Recession High

Mar 22nd, 2017 @ 9:51 AM by Amber Nelson

American consumers have been racking up credit card in a style similar to their pre-financial crisis habits, with spending predicted to reach a ten-year high by the end of 2017. Total outstanding credit card debt jumped to $978.9 billion in the fourth quarter of 2016, a 7 percent increase from the year before and the […]

more »

Federal Reserve Raises Rates to 8-Year High

Mar 15th, 2017 @ 12:41 PM by Amber Nelson

The Federal Open Market Committee – an arm of the Federal Reserve – raised its target interest rate today, the second increase in three months, with the rate now barely back up where it was eight years ago at the end of 2008. The Fed upped its federal funds rate to the range of 0.75 […]

more »

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 […]

more »

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 […]

more »

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 […]

more »

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 […]

more »

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 […]

more »

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 […]

more »

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, […]

more »