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Category: Data, research, and reports |
Published

Credit access declined during the pandemic for credit cards, but increased for mortgages and auto loans

This post is the fifth in a series documenting trends in consumer credit outcomes during the COVID-19 pandemic. Access to new credit cards has decreased, but access to mortgages and auto loans has increased since the start of the pandemic.

Category: Data, research, and reports |
Published

Credit card limits are rising for most groups after stagnating during the pandemic

This post is the fourth in a series documenting trends in consumer credit outcomes during the COVID-19 pandemic. Credit card limits stagnated or declined for most credit score groups early in the pandemic, but have been rising in recent months. Despite a spike in accounts closed by creditors at the start of the pandemic, accounts are not being closed at unusual rates.

Category: Data, research, and reports |
Published

Credit card use is still declining compared to pre-pandemic levels

This post is the third in a series documenting trends in consumer credit outcomes during the COVID-19 pandemic. The economic disruption of the pandemic does not appear to have caused consumers to run up large credit card balances. The opposite seems to be the case, since April 2020, credit card balances and utilization rates have continued to decline, and the share of credit card borrowers that carry a balance rather than pay in full have also declined.

Category: Data, research, and reports |
Published

Trends in Reported Assistance on Consumers’ Credit Records

This post is the second in a series documenting trends in consumer credit outcomes during the COVID-19 pandemic. Since July 2020, consumers have transitioned out of assistance to varying degrees across all credit products, but a significant share of mortgage borrowers continue to receive assistance.

Category: Data, research, and reports |
Published

Delinquencies on credit accounts continue to be low despite the pandemic

New Bureau research examines consumer credit trends through April 2021, finding little increase in delinquencies on credit cards, auto loans, mortgages, and student loans during COVID-19. Delinquency rates also remain lower than pre-pandemic levels, likely as a result of public and private interventions.

Category: Data, research, and reports |
Published

Consumer use of payday, auto title, and pawn loans

A new analysis in our Making Ends Meet survey series looks at how consumers use payday, auto title, and pawn loans. Use of these loans is persistent from year to year. Some consumers of these loans have lower cost credit available, while others lack access to other credit.

Category: Data, research, and reports |
Published

Credit card debt fell even for consumers who were having financial difficulties before the pandemic

We use the Bureau’s Making Ends Meet survey to study whether financially vulnerable consumers have turned to credit card debt during the coronavirus pandemic. We find that credit card debt fell even for consumers who were financially vulnerable before the pandemic.

Category: Data, research, and reports |
Published

New report explores the prevalence of actual payment information in consumer credit reporting

This report explores the prevalence of actual payment information in consumer credit reporting. Quarterly Consumer credit trends reports focus on a specific consumer financial product or issue using a longitudinal, nationally representative sample of de-identified credit records maintained by a nationwide consumer reporting agency.

Category: Info for consumers |
Published

Seis consejos a tener en cuenta cuando le ofrezcan la tarjeta de crédito de una tienda

En estas fiestas, usted seguramente recibirá más de una oferta para abrir la tarjeta de crédito de alguna tienda. Claro, la oferta de un 20 por ciento extra, o de cero intereses si lo paga completo, puede  sonar muy tentadora, pero puede tener un precio. Tenemos 6 consejos a seguir para que disfrute de los beneficios y reduzca los riesgos.

Category: Data, research, and reports |
Published

New report explores the extent of revolving in the U.S. credit card market

The analysis shows that about two thirds of actively used credit card accounts carry a revolving balance. Once consumers begin to revolve, they do so continuously for about 10 months on average, with approximately 15 percent revolving continuously for two years or more. The longer a balance is revolved, the higher the chances that the consumer will continue to revolve a balance.