Credit card issuance way up

Discussion in 'Economy' started by Truthmatters, Aug 20, 2011.

  1. Truthmatters
    Offline

    Truthmatters BANNED

    Joined:
    May 10, 2007
    Messages:
    80,182
    Thanks Received:
    2,223
    Trophy Points:
    0
    Ratings:
    +2,233
    Bank card issuance rises to 3-year high - Aug. 19, 2011



    The number of cards banks issued to subprime borrowers, meaning consumers with tarnished credit histories who present a greater credit risk, rose a whopping 65% during the first five months of the year, to 4.4 million cards. During the same period in 2009, the number of cards issued to these risky borrowers tumbled 63% year-over-year.



    Limits on credit cards have also increased, Equifax found. Overall credit limits rose more than 27% from January to May, and new subprime bank card credit limits soared 68%.
     
  2. Truthmatters
    Offline

    Truthmatters BANNED

    Joined:
    May 10, 2007
    Messages:
    80,182
    Thanks Received:
    2,223
    Trophy Points:
    0
    Ratings:
    +2,233
    Someone found a way to increase sales.
     
  3. dblack
    Offline

    dblack Gold Member

    Joined:
    May 21, 2011
    Messages:
    20,122
    Thanks Received:
    2,006
    Trophy Points:
    245
    Ratings:
    +3,766
    Awesome... c'mon everybody, back on the debt gravy train!
     
  4. Truthmatters
    Offline

    Truthmatters BANNED

    Joined:
    May 10, 2007
    Messages:
    80,182
    Thanks Received:
    2,223
    Trophy Points:
    0
    Ratings:
    +2,233
    Pretty much.

    It bodes well for a better christmas season
     
  5. dblack
    Offline

    dblack Gold Member

    Joined:
    May 21, 2011
    Messages:
    20,122
    Thanks Received:
    2,006
    Trophy Points:
    245
    Ratings:
    +3,766
    We'll party like it's 1999!
     
  6. Mad Scientist
    Offline

    Mad Scientist Deplorable Gold Supporting Member Supporting Member

    Joined:
    Sep 15, 2008
    Messages:
    23,938
    Thanks Received:
    5,211
    Trophy Points:
    270
    Ratings:
    +7,678
    So dumb people who like to be debt slaves are back, and that's good news? :confused:
     
  7. Mr.Nick
    Offline

    Mr.Nick VIP Member

    Joined:
    May 10, 2011
    Messages:
    9,604
    Thanks Received:
    682
    Trophy Points:
    83
    Ratings:
    +682
    Wow, cards with 500-1,000 dollar limits with 17% interest rates.

    I'm 31 and never had a credit card because I'm not stupid.
     
  8. Mr.Nick
    Offline

    Mr.Nick VIP Member

    Joined:
    May 10, 2011
    Messages:
    9,604
    Thanks Received:
    682
    Trophy Points:
    83
    Ratings:
    +682
    More like party like its 1993... :lol:
     
  9. expat_panama
    Offline

    expat_panama Silver Member

    Joined:
    Apr 12, 2011
    Messages:
    2,461
    Thanks Received:
    252
    Trophy Points:
    98
    Ratings:
    +253
    --the point being that Americans are worthless hopelessly in debt spendthrifts.

    That lie is really popular among hardcore America-bashers for leading their useful idiots around. Only an outright liar or a fool would read "tumbled 63%" before "rose a whopping 65%" and not understand that this adds up to a 38% drop. Total private debt's been falling for years now yet the America haters never fail to get so much mileage off this song and dance.
     
  10. Mr.Nick
    Offline

    Mr.Nick VIP Member

    Joined:
    May 10, 2011
    Messages:
    9,604
    Thanks Received:
    682
    Trophy Points:
    83
    Ratings:
    +682
    Oh there are plenty of Americans who believe they have the right to a credit card, buy a bunch of shit with it, not pay a dime on it and then bitch how they're getting fucked over by the banks.

    Yeah all they wanted was free pizza, gas and booze and clothes.

    I suppose free shit looks good until the bills come.
     

Share This Page