Joetta Forsyth Provides Insights on Credit Cards for Bad Credit in WalletHub
In the realm of unsecured credit cards for individuals with bad credit, WalletHub has unveiled its findings on the best options, shedding light on the intricacies of these financial tools. Pepperdine Graziadio faculty member Joetta Forsyth contributes valuable insights to the discussion.
Forsyth emphasizes the high interest rates associated with unsecured credit cards for people with bad credit. She points out the mathematical challenges for credit card companies in making these cards financially viable, highlighting the need for higher interest rates to cover potential losses from defaults and credit card fraud. Forsyth also addresses the limited options in this market, attributing it to the complex nature of lending to individuals with bad credit and the need for specialized knowledge. Despite the challenges, she suggests that for borrowers confident in paying off the card each month, an unsecured credit card may offer a potential boost to their credit score.
Overall, WalletHub's research, coupled with Forsyth's expertise, provides a comprehensive guide for individuals navigating the landscape of unsecured credit cards for bad credit.
Read the full article here.