The challenge is to get people confident enough to carry debt, or at least needy enough to make the payments.
And, in the U.S. market, with 500 million active credit cards and 130 million households, what do you do? From looking at recently published numbers by Equifax, it seems like one solution might be to lower the score threshold for booking a new account. Another solution is to increase credit limits in hopes that it will raise consumer confidence.
Total bankcard credit limits originated YTD are $138.8 billion. This is a 22.0% increase from the previous year.