Wednesday, August 3, 2016

Credit Cards Gaining Steam (Again)

"Credit-card issuers have been conservative since the economic downturn. The loosening of the standards could be a very good sign for recovery. ... It's also concerning."

Consumers learned a valuable financial lesson in the Great Recession: Many people reeled in their debt, became wary of high-interest loans and returned to spending only the cash they had on hand — until recently.

Now, the number of credit-card accounts in the U.S. is rising quickly. And based on current growth rates, the total number will soon be back to prerecession levels....

Read the entire article courtesy of CNBC:

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