Here we go again:
More Subprime Borrowers Are Missing Loan Payments
Borrowers with limited or troubled credit histories are defaulting on credit cards, car loans and personal loans
https://www.wsj.com/articles/more-subprime-borrowers-are-mis…
All that free money has now been spent. Trouble is we now have rising interest rates, inflation and falling savings rates.
Here we go again:
More Subprime Borrowers Are Missing Loan Payments
Borrowers with limited or troubled credit histories are defaulting on credit cards, car loans and personal loans
I was recently “Forced” to take a third Credit card (Costco Membership thing). Historically I’ve always had two cards both of which are paid off when due.
Looking through the Website of the new (CIBC/Costco membership) card and 2/3rds of it is attempts to upsell clients in many different ways including no interest (payments) for three months on loans starting at $400.
Seriously irritating as it took me awhile to even find my balance due statement but easy to find my “Apply for a credit limit increase” or “Request a credit card balance transfer” and pointing out that I’m not registered for “Non-Registered Investments
Non-Registered Investments
What follows is an advertisement.
Interested in opening a non-registered account and investing online?
Trade smarter, not harder with CIBC Investor’s Edge.”
There is no doubt in my mind that Banks make a fortune on collecting high interest on Credit Cards right up until the customer can’t afford to make even the minimum payment at which time we are back to … ?
Tim
OT - USA vs Sweden in IIHF hockey, tied 2-2 at the end of regulation time. Going to 5 min overtime then potential shootout.
OT - USA vs Sweden in IIHF hockey, tied 2-2 at the end of regulation time. Going to 5 min overtime then potential shootout.
USA scored in overtime.
Tim