Tren Griffin @trengriffin I work for Microsoft. Previously I was a partner at Eagle River, a private equity firm established by Craig McCaw. I am on the board of directors of Kymeta. Dec. 27, 2019 1 min read

The average credit card interest rate is 17.3%.

The average credit card debt per household is $8,701.

 https://news.google.com/articles/CAIiEFhBNjWUE5CreJeD7NDHdGkqGAgEKg8IACoHCAowjtSUCjC30XQwzqe5AQ?hl=en-US&gl=US&ceid=US%3Aen 

Averages aren't the right way to look at this market.

"While superprime consumers own 59% of all credit card accounts and incur 21% of all late fees, deep subprime consumers own just 6% of credit card accounts yet incur 24% of all late fees."  https://news.google.com/articles/CAIiEBuWbS2caBjA7xCebKZZWBYqEwgEKgwIACoFCAowgHkwoBEwwjU?hl=en-US&gl=US&ceid=US%3Aen 

There's almost certainly more than one neobank/bank likely to say: "Your profit margin on these credit cards is my opportunity."

Fintech in 2020 seems destined to be more about rebundling than unbundling. Cross-selling will be rampant and better software the differentiator.


You can follow @trengriffin.



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