Tag: consumer credit trends
Financial health means more than just having a great credit score or money in a savings account. It includes being able to manage daily finances, save for the future and weather a financial shock.
Study noted that travelers relied heavily on credit for vacation purchases last yr—with many planning to charge much of their vacation expenses this summer
According to a study by VantageScore, consumers with credit scores between 601-650 carry the largest credit card bills, at more than $10,000.
Average mortgage rate was >4% at the end of Q1 with mortgage originations nearly $450 billion—a 5% increase over the $427 billion a year earlier.
Understanding how a consumer uses credit or pays back debt over several months (trended data) can help you derive valuable insights on consumers
Divorce often affects financial health negatively. It’s expensive – often causing nearly $20,000 in losses.
the amount of time it’s taking for automotive loans opened in Q4 2015 to become delinquent is actually similar to the pace in 2008.
2017 is expected to bring some big changes. But what do those changes mean for the financial services space? Here are 3 trends and twists Experian expects to occur over the next 12 months:
The holidays can be a stressful time for consumers — and an important time for lenders to anticipate the aftermath of big credit card spending
VantageScore found consumers rendered “unscoreable” by commonly used credit scoring models are nearly identical financial/credit behavior to scoreables
Experian analysis shows that 2.5M consumers will have a foreclosure, short sale or bankruptcy fall off their credit report between June 2016 and June 2017
College grads ill-prepared to manage credit
Conditions for small-business credit remained relatively unchanged in Q1 2016
Bankcard origination volumes reached $97.5 billion in Q4 2015, the highest level on record since Q3 2008 and an increase of 22% over the same quarter in 2014. The 60–89-days-past-due bankcard delinquency rate came in at .53% for Q4 2015 — significantly lower than the 1.22% delinquency rate back in Q3 2008. The increase in bankcard originations combined with lower delinquencies points to a positive credit environment. Lenders should stay abreast of the latest bankcard trends in order to adjust lending strategies and capitalize on areas of opportunity. >> Key steps to designing a profitable bankcard campaign