CFPB flags rise in subprime credit card debt

credit card
By Jennifer Kang
04 Sep 2019

Consumers with lower credit scores have become a larger share of the credit card market as their debt piles up faster than in the prime borrower cohort, the Consumer Financial Protection Bureau said in a report this week.

Along with subprime debt, delinquencies and charge-offs are rising as well, according to the biennial CFPB consumer credit card market report published last week. 

“Cardholders with prime or super-prime credit scores continue to account for most credit card debt and spending,” the study said. “However, in the past few ...

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