The convenience and easy access of subscription services at home has created a boom in new subscribers during the COVID-19 pandemic. While using subscriptions can save money on gas and going out to eat, the auto-renewals of subscriptions may bust some household budgets. To find out if the latest spike in subscription services is indicative […]
What’s the average credit card APR in America today? To find out, CompareCards by LendingTree reviewed about 200 of the most popular credit cards in the country to come up with a comprehensive look at the state of credit card APRs today. We’ll do this every month and publish the results here. In this post: […]
For the third straight month, credit card balances had a massive decline, according to the latest consumer debt data from the Federal Reserve. The latest Fed data shows that consumer revolving debt fell at an annualized rate of 28.6% in May, leaving Americans’ outstanding consumer credit card balances at $996 billion. It is the first […]
About 70 million people – more than one-third of credit cardholders – said they involuntarily had a credit limit reduced or a credit card account closed altogether in a 60-day period stretching from mid-May to mid-July, according to a new survey from CompareCards. The report is a clear sign that credit card issuers are still […]
In business they say the customer is always right. For some consumers, that statement not only applies to customer service, but also describes their ideology on political and social issues. A substantial percentage of consumers who feel that a company is behaving wrongly are willing to boycott that business, according to a new report from […]
Air travel internationally and domestically came to a screeching halt in April due to the spread of COVID-19. Data from the Bureau of Transportation Statistics (BTS) estimates U.S. airlines carried 96% fewer passengers in April 2020 than in April 2019. Despite travel picking up some since April, we have yet to see a return to […]
As the COVID-19 crisis wreaks havoc on the American economy, the impact on credit cardholders has been massive, but maybe not in the way experts might have predicted when the outbreak began, according to a new report from CompareCards. CompareCards took a deep dive into more than 400,000 anonymized credit reports of credit cardholders in […]
Those looking to fill some of their newly found time at home while social distancing may be turning to video games for entertainment. Just over two-thirds of consumers have played some type of video game in 2020 — with millennials (81%) being the largest age group to do so, followed by an equal split between […]
The number of new credit cards opened declined in May. This is the second month in a row that credit card originations dropped, according to a new report from CompareCards. The average credit limit tied to a new card decreased significantly, too. Key findings Credit card originations (the number of new credit cards opened) were […]
Credit score growth or decline is one indicator of how consumers are handling their finances. With Americans experiencing the worst unemployment figures since the Great Depression, it is no surprise that many Americans expect their financial situation to deteriorate. However, it appears that some Americans are still managing to pay their bills on time and […]
During a time of economic uncertainty, people tend to panic, be paralyzed with fear and do nothing to change their situation. However, there appears to be a drastic difference in taking action when it comes to money matters between men and women during an economic crisis, according to a CompareCards survey conducted in April 2020 […]
Do you know what the symbol that’s circled in this picture means? If you don’t, you’re not alone. That wave-like symbol means that the card can be used to make contactless payments — and nearly half of all consumers don’t know what it means, according to a new report from CompareCards. Contactless payments are made […]
