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Aug
31
Jennifer Lanouette over at Comscore is reporting news that I’m sure causes great happiness for Joe Biden and his family members — the Senator from Delaware and land ‘o credit card companies — and anyone else who is connected with the credit card industry.
Despite the recent credit crisis that has hit the mortgage markets, credit applicants are still seeking online credit card applications.
The downside of the good news — all of the action is from subprime borrowers (a 30% increase) who have been squeezed out of other credit markets while prime customers (a 15% decrease) have been fleeing online credit card applications during these days of economic unrest.
The question to be seen is whether the subprime borrowers will be able to keep up with their credit card payments, if they are approved for credit.
Disclaimer — I’m tangentally connected with the credit card industry.
Dec
5
Credit Cards Under Fire
Filed Under Congress, credit cards, personal finance | 2 Comments
Congress is taking aim at credit cards and their high interest rates.
US credit card debt has soared in recent years to 877.1 billion dollars in 2006, up over 100 billion dollars from 770.5 billion in 2003, according to the Federal Reserve.
“I’m happy to report that some credit card companies have begun the clean-up. But more needs to be done,” said Republican Senator Norm Coleman.
Just say no to too many credit cards!
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