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Record-level deadbeats, slow payers and personal bankruptcies are more than balancing out card growth rates
After years of riding annual growth rates in excess of 20 percent, credit card issuers and brands are now struggling with the uncomfortable notion that their hyperbolic marketing over the past five years may have put cards in the hands of consumers who could devastate what has been a very lucrative industry.
Even in the face of a slower, 17 percent growth rate last year, the bankruptcy numbers are gloomy.
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