Credit Card Companies Suffering

This is a credit card news story that I like to hear, Irregular Payments reports that credit card giant MNBA is suffering due to customers paying off their debts quicker than expected.

I’m not sure if this is caused by people taking balance transefer offers at a lower interest rate, or growing consumer education that while credit cards are convenient, they are damn expensive to maintain and best paid off as quick as possible.

PS Looks like MNBA’s share price has dropped 16% after they announced below expected earnings, who says it pays to over charge.