The Next Subprime Crisis: Credit Cards

by James & Miel on October 14, 2008 · 0 comments

An outfit called Innovest has recently come out with a new report on the state of Americas credit card industry. Their preliminary conclusions point to some scary implications for the economy. In a nutshell, the report says several things:

1) The credit situation of the average American has deteriorated over the past 10 years, with mortgages being just a small part of the larger picture.

2) About 30% of all credit card debt is held by subprime borrowers.

3) Due changing banking practices, 1 in 10 credit cards may default by the end of 2009, possibly resulting in up to 1.2 billion dollars in losses.

Click here and here for the gory details.

Best,

James

Like DINKS? Subscribe!

Screen_shot_2017-04-25_at_1.36.57_pm

Subscribe to get the latest DINKS Finance content by email.

Powered by ConvertKit



{ 0 comments… add one now }

Leave a Comment

This blog is kept spam free by WP-SpamFree.

Previous post:

Next post: