Earnings Season Shows Consumers Using BNPL More for Clothes, Travel

Earnings season’s not over yet — and the picture on consumer spending is mixed thus far.

The payment networks and banks have noted that though consumers still are using their cards, there have been some pullbacks by lower-income households. The Federal Reserve’s latest survey on consumer credit detailed that use of revolving debt — which includes credit cards — slowed to an annualized pace of 0.1% in March, down from a more than 9% rate in the previous month.

Spending can be and often is lumpy...