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Category news: Uncategorized

Credit card debt is decreasing

Despite high struggles in the last two years, interestingly enough, the COVID-19 pandemic has resulted in the overall level of credit card debt plunging.

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Consumer delinquency rates remain low as credit spending increases

Globe Newswire reports we are currently experiencing “one of the longest periods of sustained positive credit activity” we’ve seen in recent decades. Economists believe factors such as low unemployment rates, wage growth, GDP growth, and high consumer confidence are all primary contributors to consumers’ recent increased use of credit cards.

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Consumer ID theft drops but problems persist

The number of identity theft incidences dropped in 2018 but the problem still persists for millions of consumers. According to Javelin Strategy & Research in its 2019 Identity Fraud Study, the number of people who fell victim to identity theft fraud fell from 16.7 million in 2017 to 14.4 million in 2018.

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