BankFiesta.com

Credit cards are starting to become profitable again…
Amid a tough job market and unemployment at a 26 year high, consumers have struggled, creating huge losses for consumer banking companies who have paid the price. Over the past year, financial institutions have set aside billions of dollars to cover bad credit card and auto loans. But the nation’s third largest credit card issuer, Capital One Financial Corp. recently reported a profitable 2009 fourth-quarter — earning $.83 per share. And American Express reported nearly a three-fold jump in profits during the last quarter of 2009, compared to the same period in 2008. (more…)