@Jazee wrote:
It seems as the Fed lowers rates that means less interest income for banks from their cardholders. It seems pretty well known underwriting tightened during COVID for risk management so obviously the banks do change requirements over time for approval for various reasons.
Large banks are publicly owned and therefore are always concerned about maintaining their stock price which is tied to profits. Would they start loosening underwriting requirements a little to get more customers to offset the decrease in interest income?
It's just speculation but I don't think Fed interest rates specifically affect underwriting, per se, I think the economy, as a whole (which is somewhat linked to Fed rates, yes), is what primarily affects underwriting guidelines.
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