It’s the new sensation that’s sweeping the nation, and it doesn’t cost you a penny. Frugal consumers are giving up non-essential purchases.
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It should be said that the top line news from Thursday’s report was, as Larry David would say, “pretty, pretty good.”
Private credit and buy-now-pay-later firms are teaming up to cut banks out of the consumer finance supply chain.
But the new don’t require platforms to report how they interact with credit bureaus, keeping many transactions in a black box.
The agreement with US-based merchants is expected to reduce the credit card titans’ take by a combined $30 billion through 2030.
The mega bank intends to buy the fourth-leading credit card network in the US.
The biggest four banks in the US all saw their customers boost spending in 2023, as delinquencies rise in turn.
Facing eye-watering amounts of debt and record-high interest rates, US consumers have started charging less on their credit cards.