Well say it ain't so! Some Credit card companies are now targeting those in danger of losing their homes because of sub-prime mortgages. Imagine being a homeowner who is in trouble and getting offers for new credit cards in the mail. While you might think you're getting a lifeline, you're actually being thrown a cinder block. The Boston Globe reports that the credit card industry has doubled its solicitations to households in sub-prime status. The Consumer Federation of America is angry at the banks for targeting these people. So if you are in trouble and get these solicitations, look at them as a burden not a gift. The banks are trying to score money on your hard times. Compounding debt on top of more debt is not a path to wealth it's more like rearranging the deck chairs on the Titanic.

 

1 Comments on Some companies looking to capitalize on sub-prime mess

NOV
25
2007
116,393 Points Outside Blog
Good advice. Also, image what the interest rates for credit cards offered to this particular audience would be like.
5:50am • #1

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Orlando Homes Armando Rodriguez Real Estate & Mortgage Broker-GRI

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