Markets

The Credit Card Boom Just Peaked

The Credit Card Boom Just Peaked

(New York)

Over the last several years consumer credit markets have experienced a huge boom. As the economy started to pick up pace, consumers abandoned the deleveraging that characterized the Great Recession and started to use more credit. This led to a boom in profitability for credit card companies. However, that era has now come to an end. "The easy money has been made in card lending", says a consumer finance analyst at Wells Fargo. Battles over ever lower rates for consumers as well as the cost of competing by offering rewards has challenged the landscape.

FINSUM : We definitely think the credit card boom as over as consumers have wisened up and have many more good options.

  • credit
  • equities
  • mastercard
  • american express

    The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


    The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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