Consumer Payment Card News

Credit Concerns

Rising interest rates are creating some concerns among consumers about their ability to continue borrowing money at good terms in the future. Additionally, the persistent rise in fuel prices is slowly but surely digging into discretionary spending. The latest “Experian-Gallup Personal Credit Index” show that consumers have become less positive about their credit situation since last month. The current index is now at 82, compared to last month’s benchmark score of 100. The index measures consumers’ perceptions of their credit status including four key areas related to credit: level of debt, monthly payment burden, credit rating and debt extension capability. The survey shows that the largest decline comes from consumers’ less positive feelings that six months from now they will be able to make their monthly payments and borrow money should they have the need. The Experian-Gallup survey also shows that the largest decline occurred among the youngest consumers. For more information, visit: “http://www.PersonalCreditIndex.com”:http://www.PersonalCreditIndex.com

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