Credit card companies pursue subprime borrowers
Interesting subtext to the sub prime crisis, as credit card companies, target those same sub prime mortgage borrowers.
Credit card companies pursue subprime borrowers – International Herald Tribune
For credit card companies, the subprime market is a profitable one, analysts and consumer advocates say. Subprime customers, charged higher rates than those with better credit, are more likely to make minimum payments, maintaining balances that generate interest revenue for card issuers, consumer advocates said.
