Re: Is the Sub-prime Market Growing? (article)
04-03-2012 02:01 PM
For CCC's I'd say the sub-prime market is very profitable. Low limits that top out at $1000 or so, most in the $300-$500 range, higher APR's 20-25% on average. So very little exposure, much higher APR's - doesn't surprise me at all that the banks like low hanging fruit. It's not exactly like a liar loan to a maid and gardener for $500,000 with no documentation.
Now, the sub-sub-prime like First Premier or Credit One, they deserve what they get (the issuers) IMO.