Of Special Interest
21st October 2011
US Card issuers pile back into sub-prime
Equifax report that 5.4m of new credit cards issued in the first half within the US were issued to sub-prime borrowers. The statistic is based on Equifax's score being less than 660.
The Wall Street Journal quotes research by Synovate that suggest Citigroup is probably the biggest player in the sub-prime card issuing market and accounted for around one third of the sub-prime card issued in July and August. The article suggests that a further 20-30%, dependent on the month, are issued by Capital One.