Monday, May 16, 2011

Consumer Credit Expands, But Remains Near 2 Year Lows

The Fed reported on Friday that consumer credit increased at an annual rate of 3% for the first quarter of 2011.  However, December 2010 and March 2011 represent the only recent expansions, and the level of revolving credit outstandings remains around two year lows.

February numbers show the 4 year auto loan is averaging just under 5.9%, 2 year personal loans at 11%, and card rates around 13.5%.

With Moody's reporting on Monday that chargeoffs are low and headed lower, we expect to see some stepped-up credit card marketing beginning right around - now.  It's almost Memorial Day - do you know where your credit card market potential is?  The answers are in your customer database, in your GIS, in RPM's MarketBank.

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