Here are the facts about credit card issuance. All of this data is before the current pandemic recession, so you know it has changed, probably drastically.
There are approximately 6 million credit cards issued each month, and the amount of new credit issued is approximately $35 billion per month. The average credit limit for all cards issued is about $5,900.
This is the breakdown per category of credit. I don't know the average credit limit per category or the average number of cards per category so this is an educated guess. I assume that this includes secured cards.
Deep Subprime (below 580): 900,000 credit cards issued each month with an average credit limit of $300. Total credit issued about $270 million.
Subprime (580 to 619): 900,000 credit cards issued each month with an average credit limit of $600. Total credit issued is about $540 million.
Near-Prime (620 to 659): 1 million credit cards issued each month with an average credit limit of $1500 for a total of $1.5 billion
Prime (660 to 719): 1.3 million credit cards issued each month with an average credit limit of $4500 for a total of $5.8 billion in credit.
Super-Prime (720 plus): 1.7 million credit cards issued each month with an average credit limit of $15,000 for a total of $25.5 billion in credit.
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