Established Contributor
pipeguy
Posts: 749
Registered: ‎10-31-2011
Re: Is the Sub-prime Market Growing? (article)
[ Edited ]

pakman92 wrote:

jimbo831 wrote:

  This is scary.  Subprime lending already killed everything a few years ago and the banks jump right into it again.
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.

 

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.

*** Remember the Tallyman because he sure remembers you ***