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Credit Card Crash
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Re: Credit Card Crash
FICO contains little that reflects ability to pay, such as home ownership (unless you have a mortgage), savings, or even a job. It's just statistics on debt/credit limit, account payment history. Gaming the CC issuers is pursued with intensity by debt strapped but savvy folk.
As such it is not dissimilar to the housing bubble speculators and the similarly securitized instruments will suffer a similar fate.
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