The number of new credit cards opened last year rose about 14%, reports The Detroit News.
The exact number of new credit cards in 2011 was about 42.3 million. A quarter of those cards were issued to people with poor credit history.
The spike in cards is attributed to the fact that many banks loosened their standards that they had tightened during the recession.
To read the full article, visit http://www.detroitnews.com/article/20120222/BIZ/202220322/1001/BIZ/Briefs-Credit-card-accounts-rise-14-2011
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