Re: Is the Sub-prime Market Growing? (article)[ Edited ]
04-03-2012 08:04 PM - edited 04-03-2012 08:13 PM
jimbo831 wrote:With regards to anything being 'scary.' I think this is different than subprime mortage lending. With subprime mortagage lending that brough the world down, there was a bad assumption on the part of the banks that housing value would never collapse.
This is scary. Subprime lending already killed everything a few years ago and the banks jump right into it again.
With subprime credit card issuing, it's no different than 'pay day loans.' high APR and AF's pays for the risk. They are basically screwing the vulnerable.
Seriously? You are equating Capital One and Orchard sub-prime "rebuilders" with Pay Day loans? AmEx with a $25 AF and a $200 hard linit, $500 CL Citi with a $59 AF anda $24.99 APR ? These might be rebuilders, but they are nothing like Pay Day Loans IMO.