Consumers may become more cautious about taking on credit card debt
News from Debtmerica Relief:

A number of economic factors may lead more consumers to curtail their spending and in doing so make continued efforts to reduce their outstanding credit card debt.

Recent statistics from the Conference Board shows that consumer confidence fell between April and May, and that might have a negative impact on borrowers’ credit card use in the coming months, according to a report from Fitch Ratings. However, broadening lending standards granting some subprime borrowers access to new lines of credit might help to prevent a larger drop in spending.

The good news for lenders is that if consumers reduce spending, they will likely make greater efforts to keep their payments into their outstanding balances coming in on time, the report said. Already, delinquency and default on retailer-issued cards, which are traditionally riskier propositions for lenders than traditional cards, have seen late payments f…………… continues on Debtmerica Relief

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Glacier Credit Card Trust closes public offering of $ 211640000 in five-year …
News from Sacramento Bee:

/CNW/ – Glacier Credit Card Trust today announced it has completed its asset-backed offerings of $ 200,000,000 of Series 2012-1 Senior Notes and $ 11,640,000 of Series 2012-1 Subordinated Notes.

The Series 2012-1 Senior Notes were offered at par with a coupon rate of 2.807 percent.  The Series 2012-1 Subordinated Notes were offered at par with a coupon rate of 3.827 percent.  Both Series 2012-1 Notes have an expected repayment date of May 20, 2017.  The Senior Notes were rated ‘AAA (sf)’ and the Subordinated Notes were rated ‘A (sf)’ by each of Standard & Poor’s Ratings Services and DBRS Limited.

“Investor response to these offerings was very favourable, reflecting the market’s overall confidence in the quality and growth of receivables generated by Canadian Tire Bank,” said Mary Turner, President and CEO of Canadian Tire Bank.

RBC Dominion Securities Inc. and Scotia Capital Inc. served as lead dealers for the offering of the Series 2012-1 Senior Notes.  Other syndicate members for the offering including BMO Nesbitt Burns Inc., CIBC World Markets Inc., TD Securities Inc., HSBC Securities (Canada) Inc. and National Bank Financial Inc. RBC Dominion Securities Inc. and Scotia Capital Inc. served as dealers for the offering of the Series 2012-1 Subordinated Notes.

Glacier…………… continues on Sacramento Bee

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