credit card offers coming back

According to the Wall Street Journal, after more than two years of tight lending, banks have begun originating more mortgages and offering customers with credit card offers.  With the economy seemingly improving in 2010, banks feel more secure to offer credit.

Recent law changes have placed limits on fees credit card issuers for charges such as late payments and frequency of interest rate increases.  Subprime credit issuers that relied on such fees to generate revenue determined that such debtors were more of a liability than a source of profits. Therefore, credit card providers have targeted borrowers with a credit score of at least 720, says John Ulzheimer, president of consumer education for SmartCredit.com, a credit-monitoring web site.

The number of credit card applications sent to potential credit card users more than doubled through November, to four billion, according to Mintel Compremedia, which tracks direct marketing data.



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