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The numbers for 2011 revealed that the credit card industry lost money, making only $154.9 billion as compared to $163.9 billion to the year before. This revenue dip may ultimately prove beneficial for low credit scoring consumers as card issuers are likely to be more generous with their lending in an effort to expand their business. Credit-Land.com offers an array of card options for consumers of all different credit backgrounds.



MIAMI, FL., January 11, 2012 -



A decrease in the use of credit cards by shoppers, which in turn lead to less revolving credit associated with interest fees and charges caused almost six percent less revenue overall in the earnings of the credit card industry in 2011 when compared to the previous year. While some consumers accounts were terminated by many card issuers during and after the Great Recession because they were risky borrowers and forced into a credit card-free lifestyle, others have made a conscious attempt to get a handle on their personal debt and weaned themselves off of spending on credit cards. In recent time, in order to pursue only the most creditworthy individuals, many lenders are competing fiercely.



Credit card issuers are more open to relaxing their underwriting standards with the nation s economic situation slowly but steadily improving now. This, combined with their acute need to acquire new cardholders in order to shore up some of their revenue losses of late, means that many lenders will looking beyond those with good and excellent credit scores in 2012. Lenders may increase their offering of credit cards for fair credit to people with less-than-perfect credit histories and this opens up a wide array of opportunities for them.
Consumers should beware of rising interest rates on borrowing as credit card issuers flounder to recoup some of their loss of earnings. In fact, experts have reported that going in to the New Year, the average interest rate on consumer credit cards is 15.14%, higher than the 14.75% APR that was the national average just six months ago. One option for consumers is to look into 0 balance transfer credit cards which, when used wisely, help them find temporary reprieve from high interest rates and can be an invaluable debt handling tool. Whether it is making more unsecured credit cards for bad credit available, laying off employees, resorting to raising interest rates, a combination of these or employing an altogether different technique; over the coming year, credit card companies are going to have to come up with some hard and fast ways to increase their revenue.



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