"From what I have learned in my years of working in credit card services, the credit market becomes stronger when market conditions are weaker. Higher unemployment rates and lower-income often mean a rise in credit card balances, more borrowers, higher interest rates, and more accounts in arrears.
Case in point, today, more people than ever have credit cards. In the USA alone, nearly 200 million people have credit card balances. Recently we have seen an increase in subprime borrowers, those with credit scores from 580 to 669. This number is a 4% increase from last year."
