2008-10-22 Analysts believe that the credit card breach could be the next flashpoint of the current credit crisis. But its impact to overall economy will be less serious than the declining of housing market do. Industry analyst Marc DeCastro from Market research institution Financial Insights said, after the mortgage and home equity suffer severe setback, credit card would be the next hitting area by credit crisis.
Analyst Howard Shapiro from Fox-Pitt Kelton also pointed out that with the increasing number of unemployed stuff, the credit card breach rate may rise up to 7% in the first quarter of 2009, which is the highest in recent 20 years. |