Good credik be raciss ...
There’s a credit crisis looming. People are using credit to cover stretched budgets due to higher costs of inflation.
It affects all of us somehow. It’s the people who don’t know how to manage their finances that are in danger and will destroy the economy.
The democrats have perpetuated poverty and financial illiteracy and now it’s going to cost America heavily.
OH! So that’s what “Subprime Borrower” means?!?!?
Unexpected.
Bidey Boo will just wrap those up with the student loans, forgiveness fir everyone 🤣🤣🤣🤣🤣🤣
Seems like I’ve seen this story before. It didn’t end well.
Ha. I will never ever feel sorry for credit card companies. Too bad for them. They constantly extend credit to very risky people. Then when TSHF they want a govt bailout. Eff ‘em.
So....the people that banks think will have trouble paying back loans, so that they wouldn’t make the loans, but are still forced to make the loans by the goobermint, aren’t making their payments.
It’s obvious that this problem is caused by racist white banks (probably Jewish to boot).
Consumers with low credit scores are falling behind on payments for car loans, personal loans and credit cards, a sign that the healthiest consumer lending environment on record in the U.S. is coming to an end.
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Low credit consumers? Healthiest consumer lending environment? That single sentence contradicts itself.
2008 Redux.
Inflation and higher prices for EVERYTHING doesn’t help ... people too close to the line - are now over it...
Interest rates on variable rate loans will take this bad situation and make it worse. We’re not eating zoo animals yet (like what happened in Venezuela with their hyper inflation ) but we’re on that path..
People who voted for Biden because they didn’t like Trump’s tweets should feel massive shame for what they’ve done to the country.
Wait, you have to pay them back? I knew there’d be a catch.
They call it “subprime” for a reason.
Welp, it can’t be long before all the local news stations will interview a poor minority or, ever the victim, the single mother, and imply how racist and despicable the credit card companies were for preying on these hapless citizens. Never will they mention Schumer and Pelosi, et. al., who basically force banks to lend to those who are not credit worthy.
Say... didn’t something like this happen in the housing market in 2008? Nah, we couldn’t be THAT stoopid.
“subprime borrowers”?? I haven’t heard that since the last real estate melt down. Are there still such things?
Good thing the US is still a prime borrower.
For now.
Fewer people are in subprime credit-score brackets than when the pandemic began. Some 18.6% of U.S. adults with credit scores had a score lower than 600 in 2020, compared with 15.5% last year, according to Fair Isaac Corp. , creator of FICO scores.
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classification is very artificial. Looks likes subprime will have to be redefined.................