Credit Cards

Six payment cards, five marked Visa and one Mastercard, fanned out on a dark wooden table, with the front edges in sharp focus and the background dark and blurred.

Consumer Credit Growth Picked Up for a Third Straight Quarter, to a 4.2 Per Cent Rate: Over the Past Year, Borrowing Still Grew Less Than Prices

U.S. consumer credit grew at a seasonally adjusted annual rate of 4.2 per cent in the third quarter, to $5.22 trillion, the Federal Reserve said on Friday. Revolving credit, mostly card balances, jumped at a 14.5 per cent rate in September after falling in August. Over 12 months the total rose about 3 per cent, less than the 3.7 per cent rise in consumer prices.

By Daniel Okafor November 9, 2026

The entrance to an American Express Centurion Lounge, with open navy-blue double doors beside a pale mosaic wall bearing the company's centurion-head emblem and the words The Centurion.

Business

American Express Raised Its Forecast After Earning $5.42 a Share. Its Cards Now Carry an Average Fee of $136 a Year, 14 Per Cent More Than a Year Ago.

American Express said on 23 October that third-quarter revenue rose 9 per cent to $20.1 billion and earnings per share rose 31 per cent to $5.42, or 13 per cent to $4.68 excluding a travel-stake gain and a restructuring charge. It raised its full-year earnings forecast to $18.30 to $18.60 a share. Net card fees rose 16 per cent, faster than spending.

By Daniel Okafor October 25, 2026

A hand holds a smartphone showing a payment card in a digital wallet over a small black card reader on a white table.

Money

Apple Pay Reached India With One Bank's Credit Cards. UPI Handled 24.5 Billion Payments in August.

Apple Pay went live in India on Tuesday. Apple's own India page names Axis credit cards as the cards that can currently be used. RuPay, the domestic card network, is not supported. The competition is UPI, which processed 24.51 billion payments in August at an average of about Rs 1,217 each.

By Cory Chamberlain September 30, 2026

A scattered layer of US one-dollar bills photographed from above.

Explainer

A Month Ago a Fed Hike Was a Coin Toss. The Market Now Treats It as Settled.

The Federal Reserve decides on Wednesday whether to raise its benchmark rate from 3.50 to 3.75 percent. After Kevin Warsh's Jackson Hole speech, betting on a hike was roughly even. After August's core inflation came in above forecast and oil rose toward $108, futures priced it at about 85 percent on Monday. For households, the effects arrive at very different speeds.

By Daniel Okafor September 14, 2026

A close-up of a customer making a contactless payment with a blue card using the SumUp Solo card reader. In the background, a larger point of sale (POS) system is visible, emphasizing the versatility and modern design of SumUp's payment solutions. The scene reflects a sleek and efficient checkout process ideal for small businesses, beauty salons, cafes, or retail environments.

Money

Groceries Go on the Card. The Card Payment Comes Out of Groceries.

In a survey of two thousand people already carrying at least ten thousand dollars in unsecured debt, two-thirds had put food on a credit card in the past year — more than any other purchase. Seven in ten said the balance came from ordinary spending rather than anything they chose.

By Margaret Holloway September 2, 2026