Dublin, Nov. 26, 2018 (GLOBE NEWSWIRE) -- The "U.S. Secured Credit Cards Market Forecast, 2017-2021: A Credible Product with a Dark Past" report has been added to ResearchAndMarkets.com's offering.

U.S. Secured Credit Cards Market Forecast, 2017-2021: A Credible Product with a Dark Past, provides a view of this market of five million cardholders and gives a detailed view of the issuing landscape.

Secured credit cards, a product tainted by opportunistic marketers before the turn of the 21st century benefited from transparency and disclosure requirements mandated by the Credit Card Accountability Responsibility and Disclosures Act of 2009 (CARD Act).

Today, top credit card issuing banks, specialty nonprime issuers, and credit unions serve the market with fair interest rates and payment terms. Prospective cardholders can qualify for the product at institutions including Bank of America, Citi, Discover, Green Dot, US Bank, and USAA for deposit balances well under $500.

Secured cards used to represent the dark side of the credit card business, with gouging fees and deceptive 900-carrier billing numbers, comments the author of the research report. Since the CARD Act cleaned up deceptive practices and unconscionable lenders, secured cards offer a mutually beneficial proposition for issuers and credit-impaired consumers.

Issuers can increase their interest and non-interest revenue and also nurture pathways to other products. Consumers who either are recovering from a household financial crisis or do not have established credit have the opportunity to be included in mainstream financial services.

Report Highlights

• How the secure card product evolved
• Demographics of the secured card product market in the U.S.
• Selected secured card issuers
• Segment risks and opportunities
• Operating technologies

Key Topics Covered:

Executive Summary

From Hard Money Lending to a Viable Card Product
Well-Intentioned Idea Goes Awry
Revitalized Product Shows Promise
FICO Scores at Origination Are Weak
Secured Cards Can Improve Credit Scores
Expanding Secured Market by Attracting Volume from Open-Loop Prepaid Market
Opening Secured Card Balances Are Low
The Good, The Bad, and The Ugly

Driving Technologies
Authorizations, the Same but Different
Platforms, Providers, and Patents

Secured Credit Card Provides a Wide Range of Offerings
Small Business Secured Credit Cards
Consumer Secured Credit Cards
National Issuers
Specialized Subprime Card Issuers
Credit Unions

Conclusions: What This All Means for the Credit Card Industry

References
Related Research
Endnotes

Companies Mentioned

• American Express
• Bank of America
• Barclays
• Capital Bank
• Capital One
• Chase
• Chevron Credit Union
• Citi
• Digital Credit Union
• Discover
• FICO
• First Progress
• Fiserv
• General Electric Credit Union
• Green Dot
• Mastercard
• Merrick Bank
• Navy Federal Credit Union
• NIH Credit Union
• Open Sky
• Synovus
• US Bank
• USAA
• Visa

For more information about this report visit https://www.researchandmarkets.com/research/cqjz5d/u_s_secured?w=12

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

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Related Topics: Credit Cards

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