I'm a little skeptical, but I'm also not in any kind of informed position. Here's my logic. Their definition of bust-outers are: - 90 days delinquent - >70%

I'm a little skeptical, but I'm also not in any kind of informed position. Here's my logic. Their definition of bust-outers are: - 90 days delinquent - >70% utilization at close - Bad check / payment - incommunicado - multiple such accounts This seems to be a set of characteristics that would be met by any person suffering from a combination of a) bad credit choices / general irresponsibility b) sudden financial hardship (maybe just from increasing cc payments). Experian has potentially attributed to malice what can be explained by stupidity. Selection bias, but I've known many people like this in the past, and calling them "fraudsters" is being far too generous. They purchase with rose-colored glasses and full bellied optimism, expand their borrowing when things seem to be working out, then walk away from the account when it doesn't pan out the way they wanted. There's a settlement, repossession, or bankruptcy, then a few years of good behavior, and with some non-zero chance, they regress. There are probably organized rings, but I'd wager the majority of clients satisfying the above criteria are just hard-learners stuck in a generous system that doesn't dissuade them.