They are there to maximize shareholder value.  This has to
happen at your expense because they are not expansive abundance minded
thinkers and dreamers. If banks aren’t writing off bad debt,
shareholders get grumpy.

Why is this?

Because sharehorlders want to maximize the value of their
shares.  Nothing revelatory there.  So to do that for
banking stocks the best way is to increase profits and then possibly
reduce expenses.

So how do banks increase profits?

By targeting you and charging the higher interest rates they
desire.  Banks do lend to good credit people but that is
almost an afterthought because they are "less desirable" than bad
credit people.  This seems counter intuitive but it's not.

They know their "numbers" meaning they realize that some of these high
credit (aka higher risk) loans will go bad.  They know what
credit score range to lend in and what percentage of the loans in that
range will go bad and have to be charged off.  Usually when
it's charged off that just means it is sold to a debt collector.

I know this because I went through the debt collection process in
2002.  Unpleasant for sure.

So banks compete fiercely for credit risks and bad credit
people.  The credit card industry is notorious in many ways
and especially for this.  In a way it is good for rebuilding
credit after a period of drop or even devastation.  The new
extremely high rate card if used properly, by paying on time and
keeping the balance low, has a positive benefit on your score and your
overall credit report.

Those offers for a credit card that is "secured" or charges an obscene
rate, ridiculous annual fee, and monthly maintenance fee are very
prevalent and continue to grow in the marketplace.  Banks are
reacting to what their shareholders demand as well as the growing
credit problems in the marketplace.

As more people are running into credit trouble, bankers and
shareholders see increased $$.

Get off the creditor/indebtedness treadmill.  The American
system today is designed to keep you the consumer in enormous
debt.  The debt load eats up most of your earnings and buying
power and quickly spirals out of control.

This is the system the powers that be wanted.  And it has come
to fruition now.  So be one of the ones that gets out of this
mouse in the spinning wheel situation.  Step out of the
spinning wheel and start building your financial future.

For more info on how to do this visit the site below.