As signatures for credit cards diminish in value and PINs (personal identification numbers) become more common for debit card transactions, the next wave could likely be biometric payment cards. Payments cards with smart chips have had a big impact on fraud in the U.S.. Coupled with a four-digit PIN the payment card fraud decreases exponentially.…
U.S. consumer confidence has been going sideways over the past two years. A February bounce, following the end of the Trump government shutdown, was short-lived as consumer confidence resumed its slow downward erosion in March. An upside down, or inverted, yield curve happens when short-term interest rates become higher than long-term rates. Investors consider this…
The choppy economic waters in December and January are calming as recent consumer sentiment surveys are showing strong levels of confidence. However, most the current rebound is coming from lower income households and consumers in strong economic states like Florida. Nevertheless, all income groups believe the overall economy will remain strong for the rest of…
As the fog clears it has become clear the Trump Shutdown messed up consumer economic statistics, far more than projected, producing skewed economic data. Lenders were particularly rattled when the latest figures revealed an uptick in auto loan defaults. First mortgage defaults also edged up, raising concerns among bankers. Credit card delinquency also moved upward…
Credit card account rejection and cancellation rates rose slowly last year and will likely continue throughout out 2019. There is a growing consensus an economic downturn is long-overdue since the Great Recession of ten years ago. Slow Pays Rising The latest S&P/Experian Consumer Credit Default Indices for December reveals the bank card default rate rose…
Imagine earning investment crypto rewards, up to 5%, just for sending money via a phone number to friends, family and businesses (P2P or Peer-to-Peer). The cryptocurrency earned will soon be able to integrate with Crumbs, allowing users to turn their spare change into micro investments, like the popular app Acorns, but with cryptocurrency. The brand-spanking new…
Millennials are much more concerned about how they would pay their bills if the primary wage-earner were to die, than consumers between 35-49. Women were significantly more anxiety-ridden about life insurance, with more than a third reporting feeling stressed or worried compared to just 23% of men. Millennials life insurance knowledge is keener than you might…
No more swiping or dipping your payment card at the gas pump, entering your zip-code, PIN, selecting “debit” or “credit,” or entering the middle name of your mom’s aunt Helen. LOL The automotive industry’s first-ever embedded, in-dash fuel payment is here and automatically rewards loyalty. Sweet!! General Motors has buddied up with Shell-branded stations in…
Only 32% of consumers aged 38-52, known as Generation X, are confident they will reach their long-term financial goalsand are concerned about debt and saving, with 41% feeling the need to save more for the future, while 26% said they were concerned about the amount of debt they have. FICO’s own analysis of the FICO…
New research reveals there is likely to be a downward correction in consumer confidence, which could negatively impact retail sales and other consumer activity in the coming months. According to the LegalShield Law Index for June, the Financial Stress Index remains at historic lows, and continues to be a significant divergence between the “hard data” (i.e.,…
