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. 

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." 

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.


Tip: mention @threader_app on a Twitter thread with the keyword “compile” to get a link to it.

Enjoy Threader? Sign up.

Threader is an independent project created by only two developers. The site gets 500,000+ visits a month and our iOS Twitter client was featured as an App of the Day by Apple. Running this space is expensive and time consuming. If you find Threader useful, please consider supporting us to make it a sustainable project.