Credit card debt rises 315%

RawAlex · 02-25-2008

http://www.cnn.com/2008/LIVING/perso...ity/index.html

This is possibly one of the biggest warning signs for the online industry. Credit card debt is mounting, and looking like it is going to be the next frontier of defaults. This means that more potential customers are running their cards to the max, and therefore we are more likely to see declines for sales, renewals, and such.

I also wouldn't be shocked to see credit card companies try to weasel out of paying stuff by charging back any non-hard good purchases in the 3 or 4 months before a card defaults. That would be a very good way for them to lower their exposure.

02-25-2008	#1
RawAlex Members $100 for every ImLive sign-up Join Date: Oct 2002 Posts: 4,036	Credit card debt rises 315% http://www.cnn.com/2008/LIVING/perso...ity/index.html This is possibly one of the biggest warning signs for the online industry. Credit card debt is mounting, and looking like it is going to be the next frontier of defaults. This means that more potential customers are running their cards to the max, and therefore we are more likely to see declines for sales, renewals, and such. I also wouldn't be shocked to see credit card companies try to weasel out of paying stuff by charging back any non-hard good purchases in the 3 or 4 months before a card defaults. That would be a very good way for them to lower their exposure. __________________ Let's go to the edge of disaster Push the pedal and go a little faster Let's slam into a wall at ramming speed Let's go to the edge of a mountain Jump off and lets start countin' Hit the ground and tell me if it bleeds