Americans open record-setting amount of credit cards

The credit card market has been really hot. The May through October 2021 timeframe included six of the seven busiest months ever for credit card originations, according to Equifax. And while that’s the most recent data that we have, it seems that the trend has continued into 2022.
There are a lot of interesting offers out there right now and there’s really something for everybody. So whether you have debt and would benefit from a 0 percent balance transfer card, or if you’re somebody who prefers cash back or maybe you’re just raring to go and can’t wait to travel again and want to get a travel rewards card, there are competitive offers in all three card types right now.
I’d point out that sign-up bonuses have slipped a little bit since last summer and fall, but they’re still attractive. Basically, lenders are feeling a lot better about risk right now. So whereas 2020 really brought a big clampdown in terms of new card originations as the COVID pandemic set in, right now unemployment is way down, the economy is growing, delinquencies are really low – card marketers are looking to grow again. And you can use this to your advantage by picking a card that suits you.

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