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Subprime Borrowers Find it Easy to Get Credit Cards ...

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CreditInspired
Community Leader
Super Contributor

Subprime Borrowers Find it Easy to Get Credit Cards ...

... but at toy limits and high APR ...

 

http://www.msn.com/en-us/money/personalfinance/subprime-borrowers-find-it-easy-to-get-credit-cards/a...


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Message 1 of 4
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Anonymous
Not applicable

Re: Subprime Borrowers Find it Easy to Get Credit Cards ...


@CreditInspired wrote:

... but at toy limits and high APR ...

 

http://www.msn.com/en-us/money/personalfinance/subprime-borrowers-find-it-easy-to-get-credit-cards/a...


Yeah that's what is the bad thing about it.  And if the credit habits do not change, the borrower is only digging themselves into a much deeper hole Smiley Sad

Message 2 of 4
Anonymous
Not applicable

Re: Subprime Borrowers Find it Easy to Get Credit Cards ...


@Anonymous wrote:

@CreditInspired wrote:

... but at toy limits and high APR ...

 

http://www.msn.com/en-us/money/personalfinance/subprime-borrowers-find-it-easy-to-get-credit-cards/ar-BBB7ASs?li=AA4Zjn&ocid=spartandhp


Yeah that's what is the bad thing about it.  And if the credit habits do not change, the borrower is only digging themselves into a much deeper hole Smiley Sad


Good thing I have this site to keep me honest, then. Smiley Wink Seriously, with my revolving-credit lines pushing up past the $12K mark as of this past weekend, the temptation is definitely there but my primary thoughts are actually focused on getting outstanding balances down where I can and moving to close my secured card once I get it paid down/BT'ed so that I can remove that no-longer-really-needed account, get my deposit back, etc. It also helps that I've been warned off dangerous things like getting too enthusiastic with the SCT as well as the really bad/junk subprime cards, and have made substantial progress on getting the cards I actually do want.

Message 3 of 4
Anonymous
Not applicable

Re: Subprime Borrowers Find it Easy to Get Credit Cards ...

OMG you said line(S)...plural... Just how many cards do you have pushing the 12k mark? I know how that feels. I have 7k max on my CSP and I made mistake and flexed it to 10k. UGH! I wish these flex cards were more like bank debits, whereas your limit will stop there and anything else trying to come thru, hits an instant denial. I think Banks are partly to blame as well. Of course the consumer should be aware, but the banks are banking on their A+ prime people to keep them in business, while most of those A+ are going deeeper into that sink hole themselves.
Message 4 of 4
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