Mogul of Pineapples
- Centurion Member
- Posts: 1271
- Joined: Sun Jun 01, 2008 11:32 pm
- Location: Smogland
AnthonyBarone wrote:HSBC has bought up a bunch of them store credit cards last few years. That seems to be the new thing they got going on is store cards.
I bet HSBC is regretting that now. Store credit cards on average tend to have the customers with the lowest credit scores. With the high unemployment they are seeing a lot of defaults on store cards. Their losses are minimized though since those cards also tend to have lower credit limits too.
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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