Replied by smcc on topic Re: Credit Cards At The Tipping Point?
Nice article. Paints a picture of the big financial institutions grant of credit to risky customers is coming back to haunt them. What strikes me odd is the low limit card issued by Cap 1. They already assume that most people will go over their limit when using the card but at the same time limit their exposure.
Those that pay in full every month are gong to be fine. Those that pay on time but don't pay in full might see their limit decrease (which isn't fair but were back to limiting exposure) and those that are behind will feel the heat from their issuer.
