Nov 6, 2019

Americans are getting smarter about credit cards

Photo: Spencer Platt/Getty Images

U.S. consumers are getting more responsible with credit cards, data shows. Though Americans increased spending in the second quarter, they are opening fewer new accounts and fewer people with bad credit are getting credit cards.

The big picture: The American Bankers Association's November report also found that the number of credit card holders who pay off their balance in full rose to 31.1% in Q2, the highest level since ABA began keeping track in 2008.

  • The share of credit card holders carrying a monthly balance fell to 43.2%, the lowest level in two years.

Go deeper: Delinquencies spike with record-high credit card interest rates

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The states having the most trouble with credit card debt

Reproduced from CreditCards.com; Table: Axios Visuals

Americans living in Southern states will have the hardest time getting out of credit card debt, according to a CreditCards.com report that compares credit card debts and household incomes.

The state of play: Nine of the 10 highest credit card debt burdens are in the South, though New Mexico holds the top spot.

Go deeperArrowDec 4, 2019

Regulators investigate Apple Card's algorithms for gender bias

Photo: Apple

State regulators in New York are looking into whether Apple Card is violating any laws by giving some spouses lower credit limits than their mates.

Background: It all began with a series of tweets that went viral by well-known software engineer (and Ruby on Rails creator) David Heinemeier Hansson, complaining that he was given 20 times as much credit as his spouse (even though she had a higher credit rating).

Go deeperArrowNov 12, 2019

Macy's notifies online customers of potential credit card hack

Photo: Alastair Pike/AFP/Getty Images

Some customers using credit cards for online purchases at Macy's in October may have had credit card information stolen, according to a notification message sent to impacted customers posted by the news site BleepingComputer.

Driving the news: According to the notification letter, hackers injected code onto the Macy's website that would steal newly inputted credit card information. The code was active between Oct. 7 and Oct. 15.

Keep ReadingArrowNov 19, 2019