Economy | Credit Card Topics

Price Perception: Survey Reveals Americans’ Wallets Feel Inflation is Double the Reality

By: Jon McDonald, 10/24/2024

The annual inflation rate currently sits at 2.5%. That's actually the lowest it's been in over three years. But does it feel that way to American consumers? When looking at your day-to-day expenses and income, are you feeling the pinch? Are you struggling to make ends meet where previously you always felt like your savings were growing? Or are you managing to save more now than you were before? Regardless of the official figures, we wanted to know what Americans think the rate... read more »

How Inflation Is Affecting Americans’ Credit Scores

By: John Ulzheimer, 1/16/2023

Soaring inflation has impacted the financial lives of countless millions of Americans. And although recent reports suggest that inflation may finally be slowing down, recent (and significant) price hikes in consumer goods and services have placed a heavy burden on many households. That means stuff is more expensive, but it’s stuff we still have to buy somehow. The rate of inflation doesn’t directly factor into consumer credit reports or credit scores, but inflation reduces the... read more »

Average Credit Card Interest Rate by Year

By: Marcie Geffner, 11/3/2020

Credit cards tend to carry relatively high interest rates compared with other types of debt, such as car loans or home loans. One reason is that most credit cards are unsecured. That means there's no asset, such as your home or car, that the card company can seize if you don't pay your credit card balance. Since credit card rates can be high, it's all the more important to be aware of how much interest you're paying and whether it's higher than it needs to be. One way to figure... read more »

6 Wise Ways to Use Economic Stimulus Money

By: Andrea Woroch, 9/21/2020

Money is tighter than it’s ever been before for many U.S. households. In fact, a report on the financial impact of COVID-19 by Haven Life found that 61% of Americans lost household income as a result of the pandemic. With so many people financially affected, talk of another stimulus check coming to consumers is no surprise. Although negotiations are on hold, hopeful families are eagerly planning how to spend this money once it arrives. Whether you’re waiting for a new... read more »

How the Pandemic is Affecting Credit Card Debt, Savings, and Rewards Programs

By: Erica Sandberg, 10/23/2020

Could the COVID-19 pandemic have resulted in something positive? The answer is yes if you focus on the amount of revolving balances consumers are carrying now. The August 2020 Federal Reserve report revealed that credit card debt in the United States is down by more than $2 billion, dropping from a total of $996.8 billion in May to $994.7 billion in July. The less high interest debt you owe to creditors the better because the finance fees won’t be eating into your cash flow. ... read more »

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