Exhibit 99.1

COMPUCREDIT REPORTS THIRD QUARTER 2005 RESULTS

ATLANTA, GA, November 1, 2005 – CompuCredit (NASDAQ: CCRT) reported third quarter 2005 net income attributable to common shareholders of $52.7 million, or $1.05 per diluted share, as compared to its third quarter 2004 net income attributable to common shareholders of $37.9 million, or $0.75 per diluted share.

“CompuCredit is pleased to announce another solid earnings quarter this year,” said David G. Hanna, Chairman and Chief Executive Officer. “Our third quarter results reflect the success we have had in originating new credit card accounts—over 360,000 during the quarter—and expanding the suite of financial products and services that we provide to our customer base.”

The net interest margin was 23.2 percent in the third quarter of 2005, as compared to 21.2 percent for the third quarter of 2004. The adjusted charge-off rate was 7.8 percent in the third quarter of 2005, as compared to 8.3 percent for the third quarter of 2004. Also, at September 30, 2005, the 60-plus day delinquency rate was 9.6 percent, as compared to 10.7 percent at September 30, 2004.

Various references within this press release and the accompanying financial information are to the Company’s managed receivables, which include the Company’s non-securitized receivables, as well as the receivables underlying the Company’s off balance sheet securitization facilities. Financial, operating and statistical data based on these aggregate managed receivables are key to any evaluation of the Company’s performance in managing (including underwriting, valuing purchased receivables, servicing and collecting) the aggregate of the portfolios of receivables reflected on the Company’s balance sheet and underlying the Company’s securitization facilities. In allocating the Company’s resources and managing the Company’s business, management relies heavily upon financial, operating and statistical data prepared on a so-called “managed basis.” It is also important to analysts, investors and others that the Company provides selected metrics and data on a managed basis because this allows a comparison of CompuCredit to others within the specialty finance industry. Moreover, the Company’s management, analysts, investors and others believe it is critical that they understand the credit performance of the entire portfolio of the Company’s managed receivables because it reveals information concerning the quality of loan originations and the related credit risks inherent within the securitized portfolios and the Company’s retained interests in its securitization facilities.

Managed receivables data assume that none of the credit card receivables underlying the Company’s off balance sheet securitization facilities were ever

transferred to securitization facilities and present the net credit losses and delinquent balances on the receivables as if the Company still owned the receivables. Reconciliation of the managed receivables data to the Company’s GAAP financial statements requires: (1) recognition that a significant majority of the Company’s loan and fee receivables (i.e., all but $239.5 million of GAAP credit card loan and fee receivables at gross face value) had been sold in securitization transactions as of September 30, 2005; (2) a look through to the economic share of (or equity interest in) the receivables that the Company manages for its three equity-method investees; (3) removal of the Company’s minority interest holders’ interests in the managed receivables underlying the Company’s GAAP consolidated results; and (4) recognition that the previously de-securitized Fingerhut managed receivables were recorded at a $0.0 basis in the Company’s GAAP financial statements prior to its re-securitization of these receivables in September 2005.

*    *    *   *   *

Further details regarding CompuCredit’s third quarter financial performance will be discussed during management’s conference call on Wednesday, November 2, 2005 at 8:00 a.m., Eastern Time. The media and public are invited to listen to the live webcast of the call, accessible on the Internet at www.CompuCredit.com. A replay of the conference call also will be available on the web site.

CompuCredit Corporation is a specialty finance company and marketer of branded credit cards and related financial services. CompuCredit provides these services to consumers who are underserved by traditional financial institutions. Through corporate and affinity contributions focused on the underserved and un-banked communities, CompuCredit also uses its financial resources and volunteer efforts to address the numerous challenges affecting its customers. For more information about CompuCredit, visit http://www.CompuCredit.com.

Contact: Jay Putnam CompuCredit Corporation phone: 770-206-6364 email: Jay.Putnam@compucredit.com

CompuCredit Corporation (CCRT)

Financial and Statistical Summary

(Unaudited)

	At or For the Three Months Ended
	September 30,			June 30,			September 30,
	2005			2005			2004
	(In thousands, except per share data)
Common Share Statistics
Net Income Per Common Share—Basic	$	1.09		$	1.33		$	0.77
Net Income Per Common Share—Diluted	$	1.05		$	1.29		$	0.75
Book Value Per Common Share Outstanding (period end)(1)	$	15.58		$	14.47		$	12.64
Stock Price Per Share (period end)	$	44.42		$	34.28		$	18.62
Total Market Capitalization (period end)	$	2,170,249		$	1,667,382		$	852,233
Shares Outstanding (period end)	48,857			48,640			45,770
Weighted Average Shares O/S - Basic	48,524			50,125			50,876
Weighted Average Shares O/S - Diluted	50,278			51,541			51,686
Average Managed Loans Statistics (2)
Average Managed Loans	$	2,383,398		$	2,368,897		$	1,947,009
Average Shareholders’ Equity	$	725,192		$	709,520		$	616,960
Net Interest Margin	23.2		%	22.7		%	21.2		%
Return on Average Managed Loans	8.8		%	11.2		%	8.0		%
Return on Average Equity (ROE)	29.0		%	37.5		%	25.3		%
Net Charge-Off Rate	10.4		%	11.8		%	13.0		%
Adjusted Charge-Off Rate	7.8		%	8.0		%	8.3		%
Adjusted Charge-Offs	$	46,251		$	47,413		$	40,457
Risk Adjusted Margin	31.3		%	40.3		%	28.7		%
Operating Ratio	14.9		%	15.4		%	15.0		%
Other Income Ratio	15.8		%	27.6		%	15.8		%
Period-End Managed Loans Statistics (2)
Total Managed Loans	$	2,402,771		$	2,359,903		$	1,958,735
Delinquency Rate (60+ days)	9.6		%	8.3		%	10.7		%
Number of Accounts	3,318			3,092			2,388
Shareholders’ Equity	$	761,398		$	703,685		$	642,140
Equity to Managed Loans Ratio	31.7		%	29.8		%	32.8		%

(1) Assumes that any outstanding preferred shares are converted into common shares as of the end of each period.

(2) Excludes receivables at or near charge-off at the time of purchase.

CompuCredit Corporation and Subsidiaries

Condensed Consolidated Balance Sheets

	September 30, 2005			December 31,
	(Unaudited)			2004
	(Dollars in thousands)
Assets
Cash and cash equivalents (including restricted cash of $11,990 at September 30, 2005 and $11,615 at December 31, 2004)	$	93,906		$	68,240
Securitized earning assets	714,369			536,718
Non-securitized earning assets, net	388,756			158,430
Deferred costs, net	30,988			34,920
Software, furniture, fixtures and equipment, net	37,694			31,552
Investments in equity-method investees	69,729			42,059
Intangibles, net	14,621			10,643
Goodwill	131,150			100,552
Prepaid expenses and other assets	$	26,475		20,412
Total assets	$	1,507,688		$	1,003,526
Liabilities
Accounts payable and accrued expenses	$	80,201		$	36,088
Notes payable	161,079			83,624
Convertible senior notes	250,000			—
Deferred revenue	70,895			29,830
Current and deferred income tax liabilities	133,783			115,786
Total liabilities	695,958			265,328
Minority interests	50,332			54,308
Shareholders’ equity
Common stock, no par value, 150,000,000 shares authorized: 53,389,205 and 53,159,253 issued at September 30, 2005 and December 31, 2004, respectively	—			—
Additional paid-in capital	315,358			303,356
Treasury stock, at cost, 4,531,722 and 1,914,646 shares at September 30, 2005 and December 31, 2004, respectively	(124,805		)	(26,721		)
Deferred compensation	(5,707		)	(922		)
Warrant	25,610			25,610
Retained earnings	550,942			382,567
Total shareholders’ equity	761,398			683,890
Total liabilities and shareholders’ equity	$	1,507,688		$	1,003,526

CompuCredit Corporation and Subsidiaries

Condensed Consolidated Statements of Operations (Unaudited)

	For Three Months Ended									For the Nine Months Ended
	September 30,			June 30,			September 30,			September 30,			September 30,
	2005			2005			2004			2005			2004
	(Dollars in thousands, except per share data)
Interest income:
Consumer loans, including past due fees	$	37,479		$	30,944		$	11,702		$	82,460		$	27,282
Other  (1)	2,468			2,648			2,224			8,028			5,841
Total interest income	39,947			33,592			13,926			90,488			33,123
Interest expense (2)	(6,345		)	(16,373		)	(1,951		)	(25,140		)	(2,722		)
Net interest income before fees and other income on non-securitized earning assets and provision for loan losses	33,602			17,219			11,975			65,348			30,401
Fees and other income on non-securitized earning assets	112,347			173,390			84,600			386,503			153,099
Provision for loan losses	(48,012		)	(39,590		)	(27,221		)	(106,826		)	(51,221		)
Net interest income, fees and other income on non-securitized earning assets	97,937			151,019			69,354			345,025			132,279
Other operating income:
Fees and other income on securitized earning assets	56,503			22,489			54,386			116,484			130,180
Servicing income	33,667			37,693			23,365			107,819			70,589
Ancillary and interchange revenues	7,325			6,469			6,155			19,327			16,281
Equity in income (loss) of equity-method investees	9,708			7,362			(169		)	35,889			(606		)
Total other operating income	107,203			74,013			83,737			279,519			216,444
Other operating expense:
Salaries and benefits	9,174			7,882			5,744			24,163			17,116
Card and loan servicing	55,115			63,173			42,505			177,623			116,397
Marketing and solicitation	26,748			20,156			12,251			64,954			26,980
Depreciation	4,846			4,346			4,094			13,405			12,046
Other (3)	23,617			21,858			21,347			64,533			42,119
Total other operating expense	119,500			117,415			85,941			344,678			214,658
Income before minority interests and income taxes	85,640			107,617			67,150			279,866			134,065
Minority interests	(2,706		)	(2,842		)	(7,131		)	(14,709		)	(20,178		)
Income before income taxes	82,934			104,775			60,019			265,157			113,887
Income taxes	(30,271		)	(38,243		)	(21,007		)	(96,782		)	(41,236		)
Net income	$	52,663		$	66,532		$	39,012		$	168,375		$	72,651
Net income attributable to common shareholders	$	52,663		$	66,532		$	37,887		$	168,375		$	69,359
Net income per common share—basic	$	1.09		$	1.33		$	0.77		$	3.37		$	1.41
Net income per common share—diluted	$	1.05		$	1.29		$	0.75		$	3.27		$	1.39

(1) Other interest income, which is not a component of net interest margin on the Financial and Statistical Summary, includes $312, $320, $273, $934, and $788 (in thousands) for the respective periods related to our minority interest partner’s share of interest income.

(2) Includes Auto Finance segment interest expense of $2,565, $2,441, $0, $5,006, and $0 (in thousands) for the respective periods; Auto Finance segment interest expense is the only component of interest expense that is included as an offset in determining net interest margin on the Financial and Statistical Summary

(3) Other operating expense includes ancillary product expenses of $414, $575, $227, $1,154 and $764 (in thousands) for the respective periods.

CompuCredit Corporation and Subsidiaries

Business Segment Data (Unaudited)

Three Months Ended September 30, 2005	Credit Cards		Investments in Previously Charged-Off Receivables		Retail Micro- Loans		Auto Finance		Other			Total
Net interest income (expense), fees and other income on non-securitized earning assets	$	66,266	$	6,628	$	16,607	$	8,675	$	(239	)	$	97,937
Total other operating income	99,443		2,279		5,481		—		—			107,203
Income before income taxes	84,303		5,047		2,953		2,006		(11,375		)	82,934
Total assets	$	1,104,905	$	36,347	$	187,565	$	168,807	$	10,064		$	1,507,688
Nine Months Ended September 30, 2005	Credit Cards		Investments in Previously Charged-Off Receivables		Retail Micro- Loans		Auto Finance		Other			Total
Net interest income, fees and other income on non-securitized earning assets	$	169,033	$	111,179	$	45,619	$	18,228	$	966		$	345,025
Total other operating income	257,380		4,295		17,844		—		—			279,519
Income before income taxes	188,596		89,705		6,560		4,979		(24,683		)	265,157
Total assets	$	1,104,905	$	36,347	$	187,565	$	168,807	$	10,064		$	1,507,688
Three Months Ended September 30, 2004	Credit Cards		Investments in Previously Charged-Off Receivables		Retail Micro- Loans		Auto Finance		Other			Total
Net interest income, fees and other income on non-securitized earning assets	$	44,376	$	13,857	$	11,164	—		$	118		$	69,515
Total other operating income	75,783		—		7,793		—		—			83,576
Income before income taxes	59,265		3,915		2,705		—		(5,866		)	60,019
Total assets	$	774,797	$	12,739	$	155,421	—		$	4,203		$	947,160
Nine Months Ended September 30, 2004	Credit Cards		Investments in Previously Charged-Off Receivables		Retail Micro- Loans		Auto Finance		Other			Total
Net interest income, fees and other income on non-securitized earning assets	$	77,943	$	40,858	$	13,269	—		$	209		$	132,279
Total other operating income	206,240		—		10,204		—		—			216,444
Income before income taxes	113,373		11,427		3,512		—		(14,425		)	113,887
Total assets	$	774,797	$	12,739	$	155,421	—		$	4,203		$	947,160