蘑菇AV

While most Gen Zers are managing their debts, relying on credit cards for everyday spending could spell trouble

They鈥檙e still well below the overall average but could impede the already sluggish credit card recovery.

The added perks will likely appeal to Gen Zers and help meet their credit card reward demands

Investing in card-linked installment offerings can help credit unions and community banks compete with larger issuers

Firms must plan for regulatory changes across areas like BNPL, open banking, crypto, and credit cards

It's the ecommerce giant鈥檚 first credit card but likely not the last as it competes with Amazon and other ecommerce sites

Their data is consistent with what other major US credit card issuers reported, suggesting the credit card recovery is still a ways off

To overcome account opening headwinds, credit card marketers can explore credit card subscriptions, net worth data collection, and wallet-first cardholder experiences.

Despite intensified payment competition and rocky economic factors, private label credit cards will maintain their importance in the payments industry in 2023. Retailers should not discount the value they can bring in terms of revenues and loyalty.

The card will expand Barclays鈥� presence in the US credit card industry and help diversify its card volume

Additionally, 43.7% of consumers selected a credit card for travel purchases, per PYMNTS鈥� 鈥淗ow People Shop and Pay鈥� report. Lloyds鈥� travel app integration hits that intersection鈥攁 simple way to make infrequent, high value purchases with a credit card online.

The neobank has big credit card aspirations as it looks to become a one-stop shop for financial services, but its new programs may struggle to secure uptake.

How their card programs are faring:. Capital One鈥檚 credit card purchase volume increased 5% YoY. Discover鈥檚 total network volume dropped 3% YoY. This was in part due to a 73% YoY drop in network partners volume, reflecting 鈥渢he anticipated exit of a partner,鈥� per Discover. Both issuers鈥� credit card delinquencies improved, but their charge-offs, which tend to lag delinquencies, rose.

The payments industry has used its marketing budgets to reap the rewards of a strong market for credit card acquisitions. But marketers will need to embrace doing more with less as credit conditions tighten and savings run dry.

Credit card delinquency rates are now the highest since before the pandemic鈥攚ith the worst rates among 18- to 29-year-olds, per the New York Fed. Cost-of-living squeeze. While younger consumers鈥� wages are rising, so are their expenses.

The Consumer Financial Protection Bureau鈥檚 move to scrap an $8 cap on most credit card late fees means consumers will pay roughly $10 billion more annually in bank penalties. Shifting trade policies add additional complexity: Uncertain tariff policies compound the pressure on retail and manufacturing.