Originally Posted By: ponder
Originally Posted By: martinfocazio
..... While this is a TINY, TINY card issuer, .... is just incredible from a financial perspective.


Not to kick a dead horse, but this quote from the Philadelphia Inquirer caused me some distress.

http://www.philly.com/inquirer/front_page/20090512_Advanta_Corp__suspends_credit_cards.html

The quote of interest in the article is -

"Advanta, the nation's 11TH LARGEST CREDIT-CARD company, is unusual in that it does not offer personal credit cards.

Advanta's percentage of loans written off as uncollectible, at 20 percent on March 31"


That's why I posted it. It's a canary in the coal mine of debt as a product.