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      eBook

      Strategies for effective credit limit management

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      Published September 25, 2024

      Banks Credit & Economic Trends
      Strategies for effective credit limit management

      Learn how credit unions can optimize their credit limit strategies to grow card use, increase member loyalty and manage risk.

      Fast facts:

      • Credit card balances increased by $55 billion in December 2023, about four times the increase from November.
      • 35% of holiday shopping was done in December 2023, peaking at 9% of total holiday sales the week before Christmas.
      • 68% of credit card owners regularly use at least two credit cards.
      • 41% opened their recent credit card because they wanted to build their credit score and history."

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      🔹 New businesses in sectors like Construction and Food Services face higher delinquency rates, signaling elevated credit risks.
      🔹 Meanwhile, industries like Retail and Healthcare maintain stable performance, regardless of business maturity—offering balanced opportunities for lenders.

      Understanding these dynamics is critical for tailoring lending strategies, mitigating risk, and supporting business growth across industries.

      Check out the full report to see how these trends could impact your strategy!

      Subscribe to Commercial Pulse Report

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      Key insights:

      • Credit card debt reached an all-time high of $1.17 trillion in Q3 2024.
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      Key Results:

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      • Refined cost-awareness, informing operational spending for the acquisition team as well as fraud team
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