Credit card issuance way up

[Truthmatters]

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%.

 

[Truthmatters]

Someone found a way to increase sales.

 

[dblack]

Awesome... c'mon everybody, back on the debt gravy train!

 

[Truthmatters]

Pretty much.

It bodes well for a better christmas season

 

[dblack]

Pretty much.

It bodes well for a better christmas season

We'll party like it's 1999!

 

[Mad Scientist]

So dumb people who like to be debt slaves are back, and that's good news?

 

[Mr.Nick]

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%.

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.

 

[Mr.Nick]

Pretty much.

It bodes well for a better christmas season

We'll party like it's 1999!

More like party like its 1993...

 

[expat_panama]

...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...

--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.

 

[Mr.Nick]

...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...

--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.

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 ***** 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.

 

[Truthmatters]

...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...

--the point being that Americans are worthless hopelessly in debt spendthrifts. Is that the point of this article to you?

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.

The words you are so upset about are not mine are they.

 

[Truthmatters]

The total number of bank cards, or credit cards issued by banks, jumped 27% in May compared to a year earlier, according to credit reporting bureau Equifax. From January and May, nearly 15 million new bank cards were issued -- the highest level in three years.


from the article

 

[expat_panama]

the highest level in three years. from the article

Sounds like you're saying that Americans run up credit bills like there's no tomorrow. Even if that's not your intent, that is how it's going over:

...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 ***** 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.

The fact is that American private debt's been falling for years. The quote about credit cards admits that cards issued is still less than 2008, and they mention cards, not total balances due. What's happening here is you're presenting truth in a way that suggests a lie. While some can be comfortable with that, I can't.

 

[Moonglow]

i got a new credit card with a 300 dollar limit. Easy to pay off.

 

[Douger]

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%.

Looks like murkins want a re-match. They'll lose; just like last time.