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Iowa | The market will still work. Lowering rates will simply mean the card issuers will reduce their risk accordingly as they have less margin to lose - smaller card values, checking the total amount of credit allowed. Which would be a good thing as it keeps those that are dumb from completely burying themselves. Pretty hard to get into trouble with 1 or 2 2500 limit cards available. Lots of people have multiple 10-20k cards, max those out and you’re looking at years of payments. I’d imagine there would also be another segment that would evolve with collateral credit cards, where a business/individual who wanted a higher balance could tie it to an asset or balance sheet and get a better deal for more credit. | |
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Credit card interest rates cut
