Large banks expand credit card access for low-credit borrowers
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AI-assisted source synthesis · not an independent investigation.
On October 14, 2026, PYMNTS reported that large banks are issuing more credit cards to borrowers with low credit scores. In the second quarter, borrowers with credit scores below 660 accounted for 18.5% of new card accounts, up from 16.1% a year earlier. Meanwhile, the average credit limit on new cards fell from $6,216 to $6,066; the median limit for borrowers with scores below 660 rose to $600, but remained below the $7,000 for borrowers with credit scores of 720 or higher. The report also said that 35% of U.S. subprime consumers have neither a credit card nor a store card. Banks are controlling risk by offering smaller credit limits while expanding credit card access.
AI-written from reports · updated 5 days ago
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- PYMNTSLarge banks expand credit card access for low-credit-score borrowers
Large banks are issuing more credit cards to low-credit-score borrowers, with borrowers scoring below 660 accounting for 18.5% of new card accounts in the second quarter, up from 16.1% a year earlier. The average new credit limit fell from $6,216 to $6,066; the median limit for borrowers scoring below 660 rose to $600, still below the $7,000 for borrowers scoring 720 and above. 35% of U.S. subprime consumers have neither a credit card nor a store card, and banks are controlling risk and expanding access through small credit limits.
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Current heat 3·Peak over the comparable range 10 (Oct 14 05:00)·Change over the comparable range in the last 24 hours -49%
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