
Credit Card Industry Aims to Profit From Sterling Payers - The New York Times - vaksel
http://www.nytimes.com/2009/05/19/business/19credit.html
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noodle
they're probably going to get bitten on this, fairly hard. imo, of course.

if they do this, it'll drive away at least some of those pristine payers who
they do get profit from. maybe not huge profit, but it is reliable profit.

and once those guys are gone, it'll look like the subprime market. credit will
be being given to people who are less responsible and have fewer means to
repay their credit debts. it'll be a cycle of giving them money to use, and
then having to lose money to pick up their assets when they don't pay you
back.

this is whats happening now anyway, but the companies are making good $ off of
the people who do repay in a reasonable time period. once those people leave
for greener pastures, the CC companies are going to be stuck with a chewed up
field full of manure.

