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Millions of U.S. Consumers Escaping Subprime Credit

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SOGGIE
Valued Contributor

Millions of U.S. Consumers Escaping Subprime Credit

This is good news. This could be the reason that many subprime lenders are now offering benefits and waiving/longer requiring annual fees or monthly service fees.

 

Millions of U.S. Consumers Escaping Subprime Credit

http://news.fintech.io/post/102dh7k/millions-of-u-s-consumers-escaping-subprime-credit

 

Fewer Subprime Borrowers

http://www.forbes.com/sites/moneybuilder/2016/06/24/this-week-in-credit-card-news-fewer-subprime-bor...

Life was a lot simpler when what we honored was father and mother, rather than all major credit cards. ~Robert Orben
Message 1 of 6
5 REPLIES 5
9CLINE
Valued Contributor

Re: Millions of U.S. Consumers Escaping Subprime Credit

Thanks for info,,this is excellent news....

Message 2 of 6
Anonymous
Not applicable

Re: Millions of U.S. Consumers Escaping Subprime Credit

The not so good news is that despite this, credit card interest rates are extremely high especially when considering how low prime is.  Doesn't affect me because I don't revolve balances, but still.

Message 3 of 6
Anonymous
Not applicable

Re: Millions of U.S. Consumers Escaping Subprime Credit

Super! Thanks OP!

 

Cant get to the first link though, it's a sub article to an original article from Wall Street "SUBSCRIBE SUCKER" Journal. Smiley Mad

Message 4 of 6
RonM21
Valued Contributor

Re: Millions of U.S. Consumers Escaping Subprime Credit

Very good to see, and even better to know I'm one that has climbed out of that subprime category.


Total CL: $321.7kUTL: 2%AAoA: 7.0yrsBaddies: 0Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping

BoA-55k | NFCU-45k | AMEX-42k | DISC-40.6k | PENFED-38.4k | LOWES-35k | ALLIANT-25k | CITI-15.7k | BARCLAYS-15k | CHASE-10k

Message 5 of 6
surferchris
Valued Contributor

Re: Millions of U.S. Consumers Escaping Subprime Credit

Glad to hear that - thanks for the info.

Current Cards:
AmEx Hilton Honors Surpass//AmEx Platinum Card//Ann Taylor Rewards Mastercard//Capital One Platinum Card//Credit One AmEx//Credit One Platinum VISA//Fingerhut//Navy More Rewards AmEx//TruWest Platinum VISA//Aspire VISA//Costco Anywhere VISA//Lowes Advantage//Apple Card
Loans:
1 Mortgage/////Navy FCU Auto Loan (2020 Jaguar I-Pace)//Capital One Auto (2016 BMW i3)
Next Cards (4th QTR 2022):
Navy Flagship Rewards VISA//Chase Sapphire Preferred
Stats:
Scores: 700's // Inq's: 1 for mortgage // Util: 1% // AoOA: 21 yrs

Message 6 of 6
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