Banks Attempt to Increase Credit Card Usage in the Wake of Slowing Refinance
As the housing market continues to recover and interest rates increase slowly but surely, more and more banks have considered what this means for their bottom line. In the wake of the recession, credit card usage plummeted and left many banks and financial institutions with an increasing amount of delinquent debt and fewer ways in which to generate revenue. Unfortunately, credit card use had to be restricted in many cases in order to avoid more of the same.
As mortgage rates hit historic lows, financial institutions found a new cash cow
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