Credit Card Datapoint of the Day

Jonathan Stempel reports:

Discover Financial Services said on Thursday it agreed to sell its Goldfish credit card unit in Britain to Barclays Plc for $70 million, abandoning a money-losing business it bought two years ago for $1.68 billion, as consumer credit worsens.

Yep, that’s $1.6 billion, or 96% of the original purchase price, up in smoke. In fact, Discover has lost significantly m…
Original Source

  8 February, 2008| Economy | @ 21:52

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