For The Rich, Economy Has Not Changed Credit Card Payments

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Mogul of Pineapples
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For The Rich, Economy Has Not Changed Credit Card Payments

Postby Mogul of Pineapples » Wed Mar 18, 2009 6:32 pm

Just under 80% of the "mass affluent" have not changed their credit card payment patterns at all over the past year. Most are paying them the exact same way they did before the economy crashed.

You can read the story here:

Economy hasn't changed Mass Affluents' credit card payment behavior

That should be good news for the core customer base at American Express. However Amex started undertaking a large amount of riskier cardholders so they are dragging the company down right now.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

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