Banks Are Handing Out Beefed-Up Credit Lines No One Asked For
- Banks boost limits more often for subprime, near-prime clients
- Outstanding debt passes pre-crisis peak, reaching $880 billion
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It might sound like a risky strategy at a time when millions of Americans are drowning in debt: keep raising the limit on people’s credit cards, even if they don’t ask.
But that’s exactly what big banks have been doing lately to turbocharge their profits, leaving customers with the potential to rack up even bigger monthly bills.