Charlie Youakim

Because if they get too overextended, they're less inclined to want to catch up with us.

Now flip that to the credit card companies.

I think they're inclined to get people over their skis, which is the very reason why these young customers are afraid of credit cards.

Because if they overspend,

They find themselves with end of a month balance they can't catch up on.

They've got to make the minimum payment.

They spend more and they get in this never ending cycle.

They can't catch up.

And the upcoming holiday period is the greatest example of that, I think, for us.

Our credit decision teams, it's like we're getting ready for war.

We batten down the hatches, we pull back limits across the board, we shut off some new customer groups, especially to new products.

We really play defense in the holidays to make sure people don't overextend themselves.

I think that's when the revolver is created for the credit card company.

I think they don't mind the overextension at that period, because now they got a revolver for five years.

It's near close.

We're in the low hundreds.

I think these are different credit tools for different products or usages and different stages of life.

And you can interchange the two as well.

Well, I think, first of all, our customer is more paycheck to paycheck than the average customer anyway.

They're mid-low income, younger.