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News Link • Economy - Economics USA

Cash Out Refis 10-Yr High, Private-Label Credit Card Delinquencies at 7-Yr High

• themaven.net by Mike Mish Shedlock

Despite the much ballyhooed "strong jobs" economy, things are not what they seem upon closer inspection.

For example, Store-Branded Credit Card Delinquencies Hit 7-Year High.

The share of private-label credit cards with accounts at least 60 days delinquent is 4.65%, up from 4.08% in March 2017, Equifax said Wednesday. That's the highest since early 2011, the credit reporting agency said.

Some banks have expanded their lending to subprime borrowers as the economy has improved, says Matt Schulz, senior industry analyst for CreditCards.com.

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