Buy now, pay later debt grows but is hidden from credit bureaus

May 13, 2024
Adobe Analytics projects that buy now, pay later loans could drive as much as $84 billion in spending in 2024. But the debt shoppers are racking up is basically hidden from credit bureaus, lenders and economists.
Consumers are increasingly opting for buy now, pay later options. And that debt is basically invisible to credit bureaus and lenders.
i_frontier/Getty Images

Consumer debt is becoming more of a burden

Feb 7, 2023
Consumer debt levels have been rising. While wage gains have helped people pay off debt, those gains have been slowing down.
The Fed's consumer credit report, due out today, will show whether people are continuing to take on more and more debt.
Getty Images

Consumer credit is up almost 7% since this time last year

Dec 8, 2022
Credit card balances alone were up 15% in the third quarter. Higher prices for necessities and higher interest rates are contributing factors.
Credit card balances alone were up 15% in the third quarter.
Olivier Douliery/AFP via Getty Images

Partisan gerrymandering can reduce access to credit, study finds

Sep 20, 2022
Lawmakers from politically drawn districts feel less pressure to cater to voters and exert less pressure on lenders, a researcher says.
Rawley Heimer, a professor of finance at Arizona State, says lawmakers from politically drawn  districts tend to be less sensitive to voters' needs and put less pressure on lenders.
i_frontier via Getty Images

Consumers are gravitating back to plastic for spending splurges

Jul 8, 2021
The Federal Reserve said total consumer credit rose by 10% in May. And lenders issued roughly 6 million new credit cards in March, according to Equifax.
As the economy reopens, American consumers are falling back in love with plastic.
Oliver Douliery/AFP via Getty Images

As consumers get out more, they may also reach for credit cards

Jul 8, 2021
Outstanding credit card balances have been down, but people may start racking up the debt again.
People are going out more and making bigger purchases, and with credit card interest rates still high, balances might shoot back up.
Scott Olson/Getty Images

People are finding it easier to borrow right now

Jun 15, 2021
That doesn't necessarily mean they're taking out more loans, but borrowing could pick up in some categories, such as auto loans.
ridvan_celik via Getty Images

For public good, not for profit.

Consumers are still confident in the economy, if their borrowing is any indication

Feb 8, 2019
A turbulent stock market, rising interest rates and the government shutdown didn’t do much to curb borrowing. Americans continued putting more money on their credit cards and taking out more loans for school and autos in December. Consumer credit grew 5 percent, up $17 billion, according to the latest monthly report from the Federal Reserve. […]
People have been spending more on their credit cards, and some are using buy-now, pay-later services, says Andrew Davidson with Comperemedia.
valentinrussanov

Why consumer credit is a matter of "social trust"

Jul 25, 2017
The modern credit economy mostly works, author Josh Lauer says.
Spencer Platt/Getty Images

Consumer credit-scoring system to eliminate error-prone data

Mar 13, 2017
Consumer credit reporting agencies are going to start eliminating some information from credit reports that might reflect negatively on would-be borrowers. Some of that information has been prone to errors in the past, and consumer advocates argued it was unfair to consumers. This is likely to raise credit scores for some who would not be […]