In an unprecedented twist, soccer enthusiasts in India and China are bracing for a World Cup viewing crisis. Negotiations for broadcast rights in India remain unresolved, while China is yet to clarify its stance. With the tournament's kickoff just around the corner
From Mumbai’s ambitious, sound-inspired Pan-Asian sanctuaries to the secret speakeasies of New Delhi and the artisanal pizza workshops of Bengaluru, here are the essential coordinates for your May social calendar. Specialty Restaurants Limited brings its progressive Pan-Asian vision to Bandra
Filing your income-tax returns (ITR) have become more accessible over the past few years with the full process available online via the Income-Tax (I-T) website. However, there are a lot of things that can be confusing for first-time taxpayers
Puducherry Chief Minister N Rangasamy on Monday won the Assembly election from the Thattanchavady constituency, defeating E Vinayagam of the Neyam Makkal Kazhagam. Rangasamy, the chief of the All India NR Congress, garnered 10,024 votes. He defeated Vinayagam by 4,441 votes
Seven killed in four road accidents in JharkhandSeven killed in four road accidents in Jharkhand Published on: May 04, 2026 5:17 PM IST PTI Share via Copy link Ranchi, Seven people, including three minors, were killed in four road accidents in Jharkhand over the past 24 hours, police said on Monday
Americans are starting to pull back from a pandemic-era credit-card binge. After a surge in credit-card spending that pushed Americans' card balances above $1 trillion, growth is now moderating. Credit-card spending has been growing more slowly than debit-card spending since late last year, the first such stretch in nearly four years, according to the latest spending data from Visa and Mastercard.
Americans are starting to pull back from a pandemic-era credit-card binge.
After a surge in credit-card spending that pushed Americans' card balances above $1 trillion, growth is now moderating. Credit-card spending has been growing more slowly than debit-card spending since late last year, the first such stretch in nearly four years, according to the latest spending data from Visa and Mastercard.
Credit-card originations had soared during the recent period of high inflation. That allowed Americans to keep spending on discretionary items even after money ran out from pandemic stimulus payments.
More recently, household budgets have been under pressure on several fronts, from the resumption of student-loan payments to high credit-card interest rates. In that environment, some card companies are becoming pickier about whom they offer cards to, focusing on well-heeled customers. Consumers are growing more cautious about taking on new debt.
“We saw this meteoric rise in credit-card debt,” said Charlie Wise, senior vice president at TransUnion, a credit-reporting bureau. “We're seeing consumers rein themselves in.”
Ciara Zurita-Jackson said she cut up her American Express Gold Card in February, deleted all the virtual-card numbers from her smartphone and stowed the rest of her 28 cards in a wallet she doesn't use. After racking up $72,000 in credit-card debt, her monthly payments had swelled to $2,800, she said. That was more than her mortgage and car loan combined.
The 27-year-old medical-sales representative from San Antonio had gone on a three-year shopping spree that included a $6,700 water softener, $4,000 for Christmas gifts and food, and trips to Miami and Orlando, Fla. She took banks up on their introductory offers and points, and felt as though she was staying ahead by making minimum payments.
“I was seeing credit cards as monopoly money,” said Zurita-Jackson, who has paid off $30,000 in the six months since abandoning credit. She now relies on cash and a debit card.
Debit-card growth surged during the Covid-19 pandemic. More people started paying digitally through contactless cards or through apps, including for everyday purchases such as food. People also used debit cards to collect and spend government stimulus.
Meanwhile, use of credit cards initially shrank when the economy contracted. Then that, too, surged, as activities such as travel roared back, bolstering discretionary spending. Credit-card spending grew more than seven times as fast as debit-card spending in 2022.
Spending on both credit and debit cards is still rising. But in the first six months of this year, U.S. debit-card spending—which typically accounts for a little more than half of all card payments—rose 6.57% from a year earlier. Credit-card spending, by comparison, rose 5.65%, the Visa and Mastercard data shows.
When credit-card spending growth began trailing debit late last year, it ended a streak of 14 consecutive quarters in which the opposite was true. It is a reversion to the prepandemic norm.
Slower balance growth and a drop in delinquency rates from a year earlier suggest consumers are actively managing their debt, according to a TransUnion study released Thursday.
Another sign that more Americans are taking a hard look at their finances is a recent surge in personal loans typically used to consolidate credit-card debt. Personal-loan originations jumped 18% in the first quarter from a year earlier, bringing total balances to a record $257 billion.
These loans have become particularly attractive for people looking to get out of credit-card debt. Credit-card interest rates hover around 22% on average. The share of Americans only making the minimum payments on credit cards is near a record, according to the most recent data from the Federal Reserve Bank of Philadelphia.
Many of those borrowers are looking for breathing room as rising rates make revolving debt harder to manage. But relief can be temporary. A separate TransUnion study found that while borrowers who consolidate card debt into personal loans initially reduce their card balances by an average of 57%, many refill those cards within 18 months.
Even consumers who are trying to tighten their belts might be tempted by a particularly attractive credit-card offer. Zurita-Jackson said a card with no annual fee and more generous cash-back incentives might sway her.
For now, she is giving priority to her savings account.
“I am now addicted to putting money in there and seeing how much interest the bank pays us,” she said.
Write to Imani Moise at imani.moise@wsj.com and Dalvin Brown at dalvin.brown@wsj.com
Source: HindustanTimes
Related Posts: Flipkart Axis Bank credit card vs Flipkart SBI credit card Trump's proposed credit card cap spotlights Americans' debt Carrick says Martinez hair-pull red card HDFC Bank to revise reward point criteria for this credit card from February 1 Are credit card rewards How to apply for a credit card online ICICI Bank revises credit card charges and benefits from January 2026 Credit card spending up 8 Bihar CM Nitish Kumar Makes Student Credit Card Scheme Loans Interest-Free For All SBI Credit Card Rules Changing From 16 Sept
What a day and what a pattern for Italy’s brightest sporting stars. Jannik Sinner and Kimi Antonelli both claimed massive wins yesterday in their respective sports, continuing one of the most bizarre and brilliant coincidences in modern sport. Let’s break it down
1 days ago
Gold prices decline as US Hormuz plan, Iran peace talks elevate hopesThe Iran-US war has kept energy prices elevated, dimming hopes for interest-rate cuts by central banks, a negative for non-yielding bullion. Published on: May 04, 2026 4:03 PM IST Bloomberg Share via Copy link Gold fell
1 days ago
IndiGo's Head of Global Sales Vinay Malhotra on Monday (May 4, 2026) resigned to pursue opportunities outside the airline. Mr. Malhotra will step down from his position and be relieved of his duties effective at the close of business hours on July 3, IndiGo said in a regulatory filing
1 days ago
New Mexico State prosecutors are seeking fundamental changes to Meta's social media apps and algorithms to safeguard children in the second phase of a landmark trial on allegations that platforms such as Instagram have created a public safety hazard
1 days ago
Yamaha has revised the colour palette of the R25 in Malaysia with two options – Icon Blue and Mint Green. Here’s all you need to know about the new colours, and other specifications of the new R25. Yamaha has launched the 2026 YZF-R25 in Malaysia with new colour options – Icon Blue and Mint
1 days ago
Union Minister Giriraj Singh announces plan to transform Mizoram into hub of Muga silk productionUnion Minister Giriraj Singh announces plan to transform Mizoram into hub of Muga silk production Published on: May 04, 2026 5:10 PM IST PTI Share via Copy link Aizawl
1 days ago
In a moment that feels bigger than sport, North Korea’s Naegohyang Women’s FC will travel south to face Suwon FC Women on May 20, marking the first visit by North Korean athletes to South Korea in eight years. The semi-final of the AFC Women’s Champions League will take place at the Suwon
1 days ago
The 51-year-old leader of Tamilaga Vettri Kazhagam made a significant impact in his maiden electoral debut and proved that the electoral battle was a straight contest between the TVK and DMK. Chennai: Actor-politician Vijay's electoral debut, as his appearance in his films, was packed with suspense
1 days ago
The Prime Ministers of Japan and Australia agreed to deepen cooperation in a wide range of areas, including energy security, defence and critical minerals, as the Iran war threatens global supply chains. Japanese Prime Minister Sanae Takaichi met her Australian counterpart Anthony Albanese at
1 days ago
Assam Election Results: The BJP is poised to win the Assam Assembly elections, bucking anti-incumbency trends seen elsewhere. Chief Minister Himanta Biswa Sarma's campaign, focused on infrastructure, welfare, and protecting indigenous identity, appears to have resonated strongly with voters
1 days ago
Ranchi, May 4 (PTI) Seven people, including three minors, were killed in four road accidents in Jharkhand over the past 24 hours, police said on Monday. In Giridih district, on Monday, two persons, including an 8-year-old minor girl, were killed, and around 14 to 15 others suffered injuries
1 days ago
A Gurgaon-based professional’s candid post about struggling to make ends meet in Gurgaon on an annual salary of Rs 11 lakh has struck a chord online, triggering a broader discussion on compensation, taxes, and work-life balance. Shared on the r/IndianWorkplace subreddit
1 days ago
The counting of votes in the bye-elections to seven Assembly seats in five states was underway on Monday. In Maharashtra, Deputy Chief Minister and Nationalist Congress Party chief Sunetra Pawar was ahead by 1,50,342 votes against New Rashtriya Samaj Party RY Ghutukade in the Baramati Assembly seat
1 days ago
Reliance Jio has reshaped its prepaid plans for feature phone users and the Mukesh Ambani-owned company has introduced a new category called ‘4G Feature Phone Plans’, replacing older offerings and streamlining its lineup. If you’ve been using a JioPhone or any 4G keypad device
1 days ago
BenQ 27-inch 500Hz gaming monitor launched in India: Price, features and moreBenQ EX271QZ gaming monitor has launched in India, bringing a 27-inch QHD display with 500Hz refresh rate for gamers seeking faster performance and visuals. Published on: May 04
1 days ago
State-owned Central Bank of India does not expect any significant impact from the Reserve Bank of India’s expected credit loss (ECL) framework, managing director and CEO Kalyan Kumar said, citing adequate provisioning buffers. Under the ECL framework
1 days ago
A significant initiative has been undertaken to make learning easier and simpler for students in the 11th and 12th grades. The National Council of Educational Research and Training (NCERT) has launched free online courses aimed at providing quality education to students through digital mediums
1 days ago
An Indian-origin software engineer at Microsoft has gone viral after opening up about her years-long struggle with repeated visa rejections, detailing how persistence and an unexpected route eventually helped her secure permanent residency in the United States
1 days ago
Who is Anu Sharma? Internet curious about Indian techie who left Google to join PalantirAnu Sharma responded to the online buzz with an Instagram post. Published on: May 04, 2026 3:44 PM IST By Trisha Sengupta Share via Copy link In the middle of the 2026 Assembly Elections counting frenzy
1 days ago
At the age of 32, Rhea was busy building her career when she felt something unusual during a routine self-check. The days that followed moved quickly: doctor visits, tests, and then a diagnosis she never expected to hear at her age, breast cancer. Suddenly
1 days ago
Counting of votes for the five state elections is underway, with trends indicating a stronger-than-expected showing for the Bharatiya Janata Party. The party is currently leading in West Bengal, Assam and Puducherry, ahead of rivals including Mamata Banerjee’s Trinamool Congress and the Indian
1 days ago
Elon Musk contacted OpenAI President Greg Brockman to gauge interest in a settlement two days before their high-stakes trial got underway in Oakland federal court, according to a new court filing. Assembly Elections 2026 When Brockman suggested both sides drop their claims
1 days ago
Low risk to public, no travel restrictions needed: WHO on hantavirus outbreak on Atlantic cruise vesselThree people have succumbed to the hantavirus outbreak on an Atlantic Ocean cruise ship. Updated on: May 04, 2026 5:22 PM IST Edited by Sana Fazili Share via Copy link An outbreak of Hantavirus
1 days ago
DRDO Internship 2026 program launched with ₹30,000 stipend, engineering students can apply at drdo.gov.inDRDO has launched internship program for engineering students. Interns will get stipend of ₹30000 per month. Published on: May 04, 2026 4:43 PM IST By HT Education Desk | Edited by Papri
1 days ago
The Pentagon said Friday (May 1, 2025) that it has reached deals with seven tech companies to use their artificial intelligence in its classified computer networks, allowing the military to tap into AI-powered capabilities to help it fight wars. Google, Microsoft, Amazon Web Services, Nvidia
1 days ago
Dairy and healthy snacks brand Epigamia has appointed as its new chief executive officer. Assembly Elections 2026 The leadership change comes , founder of Epigamia’s parent company, . He passed away at the age of 42 on December 21, 2024, following a cardiac arrest
1 days ago
Assam Congress chief Gaurav Gogoi loses high profile Jorhat seat in 2026 Assam polls. BJP candidate Hitendra Nath Goswami wins by 23182 votes. Assam Congress chief Gaurav Gogoi has lost the high-profile Jorhat Assembly seat, marking a major setback for the party in the 2026 Assam elections
1 days ago
