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U.S. banks are bombarding consumers with some of the most lucrative credit card offers in years,...

U.S. banks are bombarding consumers with some of the most lucrative credit card offers in years, but many are being dangled at affluent people who already have plenty of plastic. Some 1.4B offers for new cards were mailed in Q1, a 69% jump from 826M Y/Y, with nearly two-thirds going to households with annual earnings of more than $75,000.
Comments (2)
  • Jessie Livermore
    , contributor
    Comments (17) | Send Message
     
    The banks freely admit to targeting for more credit those people who are nearest to bankruptcy. Seeing as they are the ones most likely to make the minimum payments each month they are responsible for the majority of the banks profits.
    Now if that is indeed the case - 2/3's going to household's with more than $75k? That is one sobering thought.
    28 Jun 2011, 03:42 PM Reply Like
  • Rob Viglione
    , contributor
    Comments (331) | Send Message
     
    Velocity of money...inflation...here we go!
    29 Jun 2011, 10:16 AM Reply Like
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