12m Spark Capitaldillettechcrunch
In today's society, many people are struggling to keep up with their bills and make ends meet. This is especially true when it comes to credit cards. The average American household has more than $16,000 in credit card debt, and the average interest rate is more than 17%. This can make it very difficult to get out of debt, and many people are forced to declare bankruptcy.
Spark Capital is a leading financial institution, and they have recently announced a new project that could help many people get out of debt. They have invested $12 million in a new credit card company called X1 Card. This company is using a new formula to determine credit limits, and they are basing it on a person's current and future income. This is a very different approach from traditional banks, and it could help m...