Ally and Cardworks a good news or bad news ??
3 replies (most recent on top)
Good news. It was a terrible decision late in an economic cycle with poor credit quality borrowers that looked good due to COVID payments.
Why have they not announced it in house? Why did we have to read about it elsewhere?
It is good news. I believe there were many subprime customers, and if they defaulted on their cards, it would pose a risk for Ally.