Seven Factors Influencing the Credit Card Market

In a forecast by the U.S. Census Bureau, by 2009 there will be 1.5 billion credit cards held by 176 million cardholders – an estimated 8.5 cards per cardholder – generating $2.7 trillion in spending, creating $962 billion in outstanding credit card debt.

With credit card debt accounting for upwards of 80 percent of the total debt purchasing and collections activity within the accounts receivable management industry, any major factors influencing this market are a top concern for both creditors and debt collection agencies involved in credit card collections. This sector report reviews some of the major factors that have influenced the credit card market throughout 2007 and into 2008, including: The housing market and ensuing credit crisis The job market, income growth and their affects on consumers The impact the economic slowdown has had on consumer confidence The continuing upward trend of credit card charge-offs and delinquencies

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