@TB51 BNPL losing steam. CCs are in now. Millennials and Gen Z are embracing the BIG BAD BANKS & CCs over BNPL, just like they are in America
BNPL fad losing steam TB
------------------------------------------------------------Equifax Quarterly Consumer Credit Insights: March 2024
- Unsecured consumer credit applications declined (-3.5% vs March quarter 2023)
- Credit card applications grew (+13.2% vs March quarter 2023)
- Personal loan applications fell (-4.6% vs March quarter 2023)
- Buy now pay later applications declined (-24.7% vs March quarter 2023)
Released today by Equifax, the global data, analytics and technology company and leading provider of credit information and analysis in Australia and New Zealand, the Quarterly Insights measure the volume of credit applications for credit cards, personal loans, buy now pay later (BNPL), mortgages and auto loans.
Unsecured credit demand, comprising credit cards, personal loans and BNPL, decreased -3.5% in the March quarter, driven bydeclining demand for personal loans (-4.6%) and BNPL (-24.7%). Despite the overall decline in unsecured credit demand, credit cards bucked the trend, with demand growing by +13.2% versus the same period 2023.
$2 PARTY, page-6132
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