consumer credit

US Consumers Upped Their Borrowing in March

U.S. consumers swiped their credit cards more often in March and took out more loans to attend school, driving overall borrowing up by the most in more than a decade. Total consumer borrowing rose $21.4 billion in March, the Federal Reserve said Monday. That's the seventh straight monthly increase and the largest since November 2001.

Can't Get Credit? You May Be Living in the Wrong State

Credit is ever so personal, and ultimately it's your responsibility -- but it's not solely about you. Your state's creditworthiness can impact you too. For that reason, CardRatings.com's recently released rankings of the 10 Best and Worst States for Consumer Credit is worth a look-see.

Why More People Are Rejecting Their Credit Cards

In the past year, millions of Americans have significantly cut their use of credit cards in an effort to take control of their financial lives. But some people are taking an even more radical step -- going cold turkey on plastic and paying for everything with good ol' cash.

Week in Preview: Retail Sales, Consumer Credit, Earnings

Yes, the unemployment rate sank below 9% in February, but the investors didn't seem to be impressed by that report. They're expected to focus this week on government data regarding consumer credit, some retail earnings and wholesale trade and jobless figures.

Week in Preview: Calm After Storm for U.S. Markets

A quiet week for earnings, along with new reports on consumer credit, consumer sentiment, economic optimism, wholesale trade, the U.S. trade balance and federal budget balance, should give the stock markets a chance to settle down after last week's volatility.

Adjusting to Retailing's New Reality: Cautious Shoppers

More shoppers are in stores these days, but they're also spending more carefully. That's not necessarily bad news for the holiday season. It's just that retailers have accepted they'll have to work hard this year to keep registers ringing.

Consumers Borrow More for New Cars, Student Loans

Consumer credit unexpectedly rose by $2.1 billion in September, but the rise is only a partial victory for those who argue that credit expansion is required for the U.S. economy to return to a normal growth rate, because credit card debt fell for the second straight month. If that decreased plastic use continues this fall, it will likely weigh on retailers%u2019 holiday shopping revenue.

Consumer Debt Falls for Seventh Straight Month

Total consumer debt fell by $3.3 billion in August. And as in July, declining revolving debt, which includes credit cards, accounted for the entire drop. The trend could keep GDP in check, but long term, it's a positive.

For American Households, the Recession Lingers

Officially underway since June 2009, the recovery has been tepid at best. The balance sheet of the average household is still straining under considerable debt, while incomes have barely risen, suggesting that the recovery has a shaky foundation.

Consumer Credit Use Falls for Fifth Straight Month

Consumer credit use fell another $1.3 billion in June, the Federal Reserve said, as Americans kept their credit cards in their wallets. But the belt tightening was less than expected: Economists had predicted credit would contract by $5 billion.

Homebuilders Losing Faith as Tax Credit Ends

The U.S. real estate market recorded another setback in July: The National Association of Home Builders reported that its Housing Market Index fell to 14 from 16 in June, with builder confidence waning and sales dipping after the expiration of the federal home-buyers tax credit.

Consumers Stop Charging It: Credit Use Plunges

Consumer credit use fell by $9.1 billion in May, and April's tally was revised from an expected increase to a large decrease. Consumer credit has now declined for four straight months and in 18 of the past 20 months.

Despite April, Consumer Credit Remains Mired

Consumer credit rose a slight $1 billion in April, but March's total was deeply slashed -- to a $5.4 billion decrease from the initial $2 billion rise. The revision means total consumer debt has fallen in 12 of the last 14 months.

Consumer Credit Unexpectedly Rises in March

Americans' use of credit unexpectedly rose in March as total consumer debt increased by 1% or $1.95 billion, though revolving debt, the category that includes credit card use, declined. It was the second increase in credit use in three months.

Your Credit Card Is Watching, and May Not Like Where You Shop

Your credit card issuer already knows whether you have a pet, watch porn or garden in your spare time. But what they are most interested in are changes in your spending patterns. Start shopping at the dollar store instead of Williams-Sonoma and they may just take that as a sign of financial hardship -- a fear that could cause them to cap the credit limit on the account or close it altogether.

Debt Pay-Down Resumes: Consumer Credit Fell in Feb.

American consumers returned to their frugal ways in February, when total consumer debt plunged unexpectedly by $11.5 billion, the Federal Reserve said. January was the first month in a year during which consumer debt rose, and the decline is putting a drag on the U.S. economic recovery.

U.S. Credit Card Balances Drop Again

There's no doubt that Americans are getting serious about paying down credit-card balances and other debt. The era of the more frugal U.S. consumer continued in December as total consumer debt fell by $1.73 billion, marking the 11th straight monthly decline.

Credit Card Debt Falls for Record 10th Month

Just call it the credit card sound of silence: Americans reduced their credit card balances for a record 10th straight month in November, the U.S. Federal Reserve announced Friday.