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Originally Posted by JImmidean
They are going to get worse this year as is CC declines as people max out their cards.
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Two articles caught my eye this morning:
Banks' Future Woes: Plastic which contains this snippet:
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Facing additional losses, credit card issuers are doing what they can to insulate themselves from further losses, including lowering credit limits for some cardholders, closing accounts or getting out of the business altogether.
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and
Credit card delinquencies hit index high which has this snippet:
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Fitch's Prime Credit Card Delinquency Index measures credit card debt more than 60 days late through January, and it surged to a record 4.04% in the most recent month, trumping the 3.75% record set in the previous month.
During the last three months, the index has climbed 23%, putting the index 30% above historical averages. Fitch started the Prime Credit Card Index in 1991.
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