Credit Card Spend Declines as Enhanced Unemployment Benefits Lapse

Back-to-school concerns also seem to be impacting purchase decisions.

By Frank Ready | August 12, 2020 at 06:25 PM

The expiration of enhanced unemployment benefits at the end of July may already be having an impact on consumers. According to PSCU's latest shopping trends analysis, overall card payment growth rates trended downward for the week ending Aug. 4, just a few days after the $600 benefits initiative provided by the Federal CARES Act was allowed to lapse.

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Frank Ready is a reporter on the tech desk at ALM Media. He can be reached at [email protected].

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Credit Card Spend Declines as Enhanced Unemployment Benefits Lapse

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