Dec 4, 2019

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.

Breakdown: A typical consumer from New Mexico carries $8,356 in credit card debt (23rd highest in the U.S.) but earns a median income of $47,169, which is the fourth lowest in the nation.

  • If the average New Mexican cardholder sticks to a recommended strategy of paying off debt with 15% of earnings, it would take 17 months to pay off their debt, and they will end up paying $1,339 in interest.

Go deeper: Americans are getting smarter about credit cards

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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

American Express pays businesses to catch up to Visa and Mastercard

Photo: Andrew Matthews/PA Images/Getty Images

American Express is paying as much as $450,000 to businesses to entice them to take its cards, the Wall Street Journal reports.

Between the lines: "Amex has long lagged behind Visa and Mastercard in the race for American businesses," as it opted for well-heeled customers rather than mass-market appeal, the story notes.

Go deeperArrowNov 19, 2019

Holiday shoppers are unfazed by recession fears

Reproduced from an Experian chart; Chart: Axios Visuals

More Americans say they are worried about a recession next year and are getting more cautious about their spending habits and debt, but that didn't slow down their holiday shopping.

Driving the news: Data from Adobe Analytics shows Black Friday spending increased by nearly 20% over last year, rising to $7.4 billion, even as fewer retailers offered big in-store discounts. Brick-and-mortar stores saw an overall 6% decline in sales, according to preliminary data from ShopperTrak.

Go deeperArrowDec 2, 2019