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.

Technorati Tags: credit cards, subprime crisis

Video: Are we heading for a perfect financial storm?

I’m betting that the economy gets better almost immediately after the election is over. Things were bad in 1980, 1992, 2000 so 2008 is probably not much different than what we’ve experienced in the past.

Technorati Tags: economy, gas prices, subprime crisis

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