Archive for May 13th, 2009
Advanta Cuts off ALL New Lending on Credit Cards
By Hazzard - Last updated: Wednesday, May 13, 2009
Interesting article that highlights the risks that many of the credit card companies are facing. Their default rate is skyrocketing and they are having to retrench and stop lending additional money to try to preserve capital. People have been talking about the next wave of defaults being in credit cards. Apparently Advanta is one of [...]