I would guess that consumer credit is much looser in USA than many other places. Like I had changed a job and couldn't get a credit card with 1000€ limit. Automated system simply blocked it.
This looseness is great boost for economy, but on other side it also means credit risk and thus the interest levels must be higher to in general to cover those losses.
> This looseness is great boost for economy, but on other side it also means credit risk and thus the interest levels must be higher to in general to cover those losses.
But it sounds like US interest rates are lower than some other places, based on GP's comment.
This looseness is great boost for economy, but on other side it also means credit risk and thus the interest levels must be higher to in general to cover those losses.