‘Signs of healing’ seen in rise in consumers’ credit card use
News from GoErie.com:

Consumers’ willingness to use plastic may again be on the rise, a new government report suggests.

The Federal Reserve Bank of New York’s household debt study for April, May and June showed that credit card limits increased by $ 60 billion or about 2 percent in that time, marking the second straight quarterly increase.

The study, based on Equifax credit report data, showed “continued signs of healing” in credit markets and “a modest increase in the willingness of consumers to borrow and banks to lend,” the federal agency said.

Researcher Andrew Haughwout said in a statement that the statistics provided “more evidence that the pace of consumer deleveraging that began in late 2008 has slowed.”

Overall, consumer debt was little changed from the end of the first quarter as balances on mortgages and home equity loans fell by 0.2 percent and 3 percent, respectively.

Delinquent and seriously delinquent loan balances remained 15 percent below year-earlier le…………… continues on GoErie.com
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Credit-card industry regaining customer approval
News from MarketWatch:

By Jennifer Waters, MarketWatch

CHICAGO (MarketWatch) — The credit-card industry is slowly climbing back up the customer-satisfaction ladder after a fall in 2009, with American Express leading the J.D. Power and Associates consumer survey for the fifth straight year.

However, “while the perception of credit-card brands has increased from last year, this strong upward indicator could certainly turn, given the highly volatile markets of late,” said Michael Beird, J.D. Power’s director of banking services.

/conga/personal-finance/consumer_seo.html 1…………… continues on MarketWatch

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