Debit, Credit Card Use Grew in February Even as Sentiment Softened, Velera Reports
By CU Today Staff —
TAMPA--Debit and credit card transactions and purchases strengthened in February, despite a backdrop of continued slow job growth, subdued consumer sentiment and rising global tensions, reported Velera, citing data from the March edition of the Velera Payments Index.
"What we’re seeing in this month’s data is a reminder that delinquency trends don’t move in a straight line. Yes, overall delinquencies are up compared with a year ago, but the story underneath is more nuanced,” said David Knowles, SVP of disputes and collections operations at Velera and President of TriVerity. “Younger consumers are feeling the most strain, and lower‑income households continue to show sharper swings in both delinquencies and credit utilization. At the same time, subprime borrowers have been remarkably steady — something we wouldn’t have predicted a few years ago. Put together, it paints a picture of a consumer landscape that’s still adjusting to higher costs and shifting financial cushions, with very different experiences depending on age and income."
Key takeaways for February include:
The full report is available for download here.
Originally reported by CU Today.