Risky Borrowers Find Credit Available Again, at a Price

December 13, 2010  |  

(New York Times) — Credit card offers are surging again after a three-year slowdown, asbanks seek to revive a business that brought them huge profits before the financial crisis wrecked the credit scores of so many Americans.  The rise is striking because it includes offers to riskier borrowers who were shunned as recently as six months ago. But this time, in contrast to the boom years, when banks “preapproved” seemingly everyone, lenders are choosing their prospects more carefully and setting stricter terms to guard against another wave of losses.

Read More…

Trending on MadameNoire

View Comments
Comment Disclaimer: Comments that contain profane or derogatory language, video links or exceed 200 words will require approval by a moderator before appearing in the comment section. XOXO-MN
blog comments powered by Disqus