Podcast ¦ Credit Shift: News Update Exploring Credit Recovery, Record High Credit Card Complaints, Debt Awareness, AI in Finance, and the Growing BNPL Phenomenon

Access the full podcast series here Summary In this episode of the podcast, the hosts discuss various news and updates in the credit industry. They highlight the increase in consumer credit and mortgage approvals, as well as the rise in credit card complaints. They also touch on the issue of individuals not knowing how much debt they owe and the importance of engaging with debt experts. Key Points Consumer credit is recovering with an 8.9% increase in January. Credit card complaints have reached a record high, with 54% due to unaffordable or irresponsible lending. Nearly a third of adults don't know how much debt they owe. Klarna has implemented AI to handle customer interactions and has seen improvements and cost savings. Key Statistics In January, consumer credit increased by 8.9%. In Q4 2023, there were 5,500 credit card complaints, with 54% due to unaffordable or irresponsible lending. Nearly a third of adults don't know how much debt...

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