De-Leveraging Becomes De-Carding


We might be seeing early indications of improved spending on credit cards. But the massive drop in the number of credit card accounts on file shows that some cardholders have given up their cards — voluntarily or not. Mercator’s CustomerMonitor Survey Series data confirms that patterns of consumer cardholding have shifted abruptly. It is hard to imagine a bounce back to the “old normal.”

Author: Ken Paterson
Published on: November 9, 2010



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