Feb 13, 2023 | Financial Literacy, News
TransUnion Report Finds Consumers Looking to Credit Products to Make Ends Meet A recent TransUnion report highlighting credit activity in Q4 of 2022 found that credit card balances hit a record $931 billion, which increased 18.5 percent from the fourth quarter of...
Feb 6, 2023 | Financial Literacy, News
More Higher Earners Report Living Paycheck to Paycheck A new survey by PYMNTS.com and LendingClub found that 64 percent of American consumers were living paycheck to paycheck at the end of 2022, which is 3 percent higher than in 2021 and an increase of 9.3 million...
Feb 1, 2023 | Financial Literacy, News
Recent Study Finds Illinois Rate Cap Reduced Access to Credit A recent study found that the 36 percent interest rate cap on consumer loans imposed by the 2021 Illinois Predatory Loan Prevention Act (PLPA) decreased the availability of small-dollar credit and worsened...
Jan 30, 2023 | Financial Literacy, News
Majority of Adults in U.S. Unable to Afford $1,000 Emergency Expense A recent Bankrate report found that 57 percent of U.S. adults could not afford a $1,000 emergency expense. When asked how they would pay for an emergency expense, only 43 percent said they would use...
Jan 16, 2023 | Financial Literacy, News
More Consumers Rolling Over Credit Card Debt from Month-to-Month A new Bankrate report released last week found that the number of adults carrying credit card debt from month to month jumped six points from last year to 35 percent. It also found that roughly 46...
Jan 13, 2023 | Financial Literacy, News
Credit Card Rates Poised to Hit 40-Year High This Year Credit card interest rates are expected to reach an average of 20.5 percent by the last week of 2023, up from 19.6 percent in the last week of 2022. This is the highest average seen in 40 years, which is painful...
