It may seem hard to believe that the credit card market is moving toward a growth pattern with charge-off and delinquency rates still in fairly high territory, but there are some signs that the market has finally hit bottom and will be looking toward growth in the near future.
One good sign of growth is that the total outstanding credit card debt increased in the second quarter of 2011. While it only increased by one percent, its a good sign that consumers are once again comfortable spending.
Another good sign of growth is that lending standards have finally started to ease a bit, so banks are going to be comfortable issuing cards to those consumers with slightly lower credit scores.
One final great sign is that bank charge-off rates have begun to stabilize, which may mean things are getting back on track in the coming months. That makes the credit market something to watch closely over the course of 2012.