When Americans with poor credit histories find themselves in a jam, it's harder than it used to be to get a reasonably priced loan.

Prior to the financial crisis, such consumers would open their mailboxes and find a raft of credit card offers. These subprime cards were laden with fees, and some of them drew derision from consumer advocates. But for customers who had poor repayment histories, they often served as a cheaper source of credit than payday or car-title loans.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.