The number of credit card applications submitted online by consumers with FICO scores of 660 or less increased by 30% from a year earlier, to 6,716, in the first quarter, comScore Inc. said Monday.
Applications from those with scores above 660 declined 16% over the same period, to 3,956, the Reston, Va., data company said.
Kevin Levitt, a vice president at comScore, said in a press release that "subprime candidates" make up "an increasingly large share of the market for new credit card applications."
Online searches for the term "cash advance" more than doubled, to 1.36 million, comScore said. Searches for the term "foreclosure" jumped 68%, to 7.03 million; for "credit card" they rose 20%, to 18.93 million; and for "bad credit" they increased 9%, to 4.06 million.