When the recent recession reverberated throughout the credit markets, the credit card industry was particularly susceptible. Being unsecured, transactional in nature and subject to the ebb and flow of a consumer’s spending rate, the industry experienced significant disruption and consumer spending declined. Federal Reserve data reveals that after peaking at nearly 500 million new accounts in 2008, credit card originations fell below 400 million in 2010. On the account management side, card issuers sought to limit exposure, and in some cases reduced credit lines and closed inactive accounts…
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