Credit Card Business is Lucrative
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The credit card business is very lucrative for many companies. For those who issue the cards, they make a huge profit off the spread between card rates (up to 25%) and the rates they pay to borrow money, which can be as little as 1%. The wider this spread, the better for credit card issuing companies. Therefore, their goal is to issue as many cards as possible, while barring in mind the credit worthiness of the consumer. …
SWOT Analysis Survey
SWOT Strength: Credit Card Business is Lucrative
The credit card business is very lucrative for many companies. For those who issue the cards, they make a huge profit off the spread between card rates (up to 25%) and the rates they pay to borrow money, which can be as little as 1%. The wider this spread, the better for credit card issuing companies. Therefore, their goal is to issue as many cards as possible, while barring in mind the credit worthiness of the consumer.
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