American Banker, November 21, 2022, Credit card demand rises as pandemic boost to consumers’ wallets wanes
Consumer demand for credit cards is on the rise — and lenders’ rejection rates are down — even as the mortgage and auto lending sectors show signs of retrenchment. The percentage of U.S. consumers who said they applied for a new credit card over the previous 12 months rose to 26.7% this year, up 3.6 percentage points from 2021, according to survey results released Monday by the Federal Reserve Bank of New York.