According to an October survey of more than 2,100 U.S. consumers, 44% of respondents had paid for their most recent retail purchase in stores via debit card, while 28% paid with a credit card.
Credit cards are the most common lending product in America, with more than 550 million cards in circulation and more than a trillion dollars in outstanding debt. Unlike mortgages or auto loans, where you typically know how much you’ll borrow and the monthly payment, credit cards are different. When you take out a credit card, you may have no debt at all. In fact, you may be primarily using it as a payment device with the goal of paying your balance off each month.
In spite of record-high credit card debt of more than $1 trillion, many Americans are taking steps to reduce their debt. A recent GOBankingRates study showed that consumer debt decreased in 32 states plus the District of Columbia between the third and fourth quarters of 2023.
RICHARDSON, Texas, May 8, 2024 /PRNewswire/ -- Texans Credit Union (Texans), a leading financial institution with a 70-year legacy of dedicated service to the North Texas community, proudly unveils its new logo. The redesign represents a bold step forward, embodying the organization's commitment to its Texas Instruments (TI) heritage, tradition, innovation and the vibrant spirit of Texas.
Federal Reserve Governor Lisa Cook highlighted commercial real estate, private credit and cyber risks as potential issues. Speaking Wednesday (May 8) at the Brookings Institution in Washington, D.C., Cook provided a current assessment of financial stability and highlighted these issues as potential vulnerabilities.
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