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Drivewaygirl
User Rank
Platinum
Re: Subprime cardholders
Drivewaygirl   3/14/2012 11:45:54 AM
NO RATINGS
Debt is cheap, but generally speaking, credit card debt isn't. So I don't think it's a good sign that consumers are running up their card balances again, unless they did so in anticipation of 1st quarter bonuses or tax refunds.

driven
User Rank
Iron
Subprime cardholders
driven   3/14/2012 11:18:06 AM
NO RATINGS
At a time when top tier borrowers are still having trouble getting mortgage loans, it seems counterproductive to offer bank cards to subprime borrowers, doesn't it? Of course, the finance charge is what -- 10 times higher on the bank cards? So I guess from a business standpoint it makes sense, Until the defaults start,

Tenacious
User Rank
Platinum
Re: Other factors
Tenacious   3/14/2012 11:03:44 AM
NO RATINGS
Wait, what do you mean? It doesn't pay to save, so I'll not only spend that money but I'll spend even more and incur debt, too -- even if I'm a subprime borrower?

tokyogai
User Rank
Platinum
Other factors
tokyogai   3/14/2012 10:53:31 AM
NO RATINGS
I think one of the other factors is the lack of return on savings. I think many are disillusioned with sub 1% returns, so it makes more sense to spend. I think this is really what the fed is trying to encourage.

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