Exhibit 99.1

COMPUCREDIT REPORTS FOURTH QUARTER 2006 EARNINGS

ATLANTA, GA, February 13, 2007 – CompuCredit (NASDAQ: CCRT) reported fourth quarter 2006 managed earnings of $19.9 million, or $0.40 of managed earnings per fully diluted share, as compared to managed earnings of $18.1 million, or $0.36 of managed earnings per fully diluted share for the fourth quarter of 2005.

Under GAAP, or generally accepted accounting principles, fourth quarter 2006 net income was $9.7 million, or $0.19 net income per common share on a fully diluted basis, as compared to fourth quarter 2005 net income of $3.0 million, or $0.06 net income per common share on a fully diluted basis.

The managed and GAAP fourth quarter 2006 results are net of CompuCredit’s $15 million charitable contribution (which reduced net income by $0.19 per diluted share) under the 2006 CompuCredit Corporation Shareholder Charitable Designation Program, and the managed and GAAP fourth quarter 2005 results are net of CompuCredit’s $12 million charitable contribution (which reduced net income by $0.15 per diluted share) under the 2005 CompuCredit Corporation Shareholder Charitable Designation Program.

CompuCredit’s net interest margin was 22.6 percent in the fourth quarter of 2006, as compared to 22.4 percent for the fourth quarter of 2005 and 26.0 percent in the previous quarter. The adjusted charge-off rate decreased to 11.0 percent in the fourth quarter of 2006 from 11.2 percent for the fourth quarter of 2005 and increased from 9.4 percent in the previous quarter. As of December 31, 2006, the 60-plus day delinquency rate was 14.1 percent, up from 9.3 percent as of December 31, 2005 and 14.0 percent as of September 30, 2006.

Various references within this press release and the accompanying financial information are to CompuCredit’s “managed” results, which include the results of its non-securitized receivables, together with the receivables underlying its off-balance-sheet securitization facilities. Financial, operating and statistical data based on these aggregate managed receivables are key to any evaluation of CompuCredit’s performance in managing (including underwriting, valuing purchased receivables, servicing and collecting) the portfolios of receivables reflected on CompuCredit’s balance sheet and underlying its securitization facilities. In allocating CompuCredit’s resources and managing its 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 CompuCredit provides selected metrics and data on a managed basis because this allows a comparison of CompuCredit to others within the specialty finance industry. Moreover, CompuCredit’s management, analysts, investors and others believe it is critical that they understand the credit performance of the entire portfolio of

CompuCredit’s managed receivables because it reveals information concerning the quality of loan originations and the related credit risks inherent within the securitized portfolios and CompuCredit’s retained interests in its securitization facilities.

Managed receivables data assume that none of the credit card receivables underlying CompuCredit’s off-balance-sheet securitization facilities was ever transferred to securitization facilities and present the net credit losses and delinquent balances on the receivables as if we still owned the receivables. Reconciliation of the managed receivables data to CompuCredit’s GAAP financial statements requires: (1) recognition that a significant majority of CompuCredit’s credit card receivables (i.e., all but $760.8 million of GAAP credit card receivables at gross face value) had been sold in securitization transactions as of December 31, 2006; (2) an understanding that CompuCredit’s managed receivables data are based on billings and actual charge-offs as reported to us through underlying systems of record (i.e., without regard to an allowance for uncollectible loans and fees receivable); (3) a look-through to CompuCredit’s economic share of (or equity interest in) the receivables that we manage for CompuCredit’s equity-method investees; (4) removal of CompuCredit’s minority interest holders’ interests in the managed receivables underlying CompuCredit’s GAAP consolidated results; and (5) recognition that CompuCredit’s Fingerhut managed receivables were recorded at a $0 basis in CompuCredit’s GAAP financial statements prior to CompuCredit’s re-securitization of these receivables in September 2005.

* * * * *

Further details regarding CompuCredit’s fourth quarter 2006 financial performance will be discussed during management’s conference call on Wednesday, February 14, 2007 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 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 www.CompuCredit.com.

Contacts

Media

Relations:    Denise Harrod, 678-259-8114, Denise.Harrod@CompuCredit.com

Investor

Relations:    Jay Putnam, 770-206-6364, Jay.Putnam@CompuCredit.com

CompuCredit Corporation and Subsidiaries

Financial, Operating and and Statistical Measures

(Unaudited)

(In thousands, except for per share data and percentages)

	As Of And For The Three Months Ended
	December 31, 2006			September 30, 2006			December 31, 2005
Common Share Statistics
Net Income Per Common Share—Basic	$	0.20		$	0.80		$	0.06
Net Income Per Common Share—Diluted	$	0.19		$	0.78		$	0.06
Book Value Per Common Share Outstanding (Period End)	$	17.89		$	17.65		$	15.67
Stock Price Per Share (Period End)	$	39.81		$	30.21		$	38.46
Total Market Capitalization (Period End)	$	1,967,240		$	1,491,052		$	1,882,620
Shares Outstanding (Period End)(1)		49,416			49,356			48,950
Weighted Average Shares Outstanding—Basic		48,745			48,742			48,603
Weighted Average Shares Outstanding—Diluted		50,328			50,022			50,387
Average Managed Receivables Statistics (2)
Average Managed Receivables	$	2,771,383		$	2,719,653		$	2,430,026
Average Shareholders’ Equity	$	878,944		$	850,179		$	764,993
GAAP Return on Average Managed Receivables		1.4	%		5.7	%		0.5	%
GAAP Return on Average Equity (ROE)		4.4	%		18.3	%		1.6	%
Net Interest Margin		22.6	%		26.0	%		22.4	%
Other Income Ratio		16.5	%		15.7	%		17.4	%
Net Charge-Off Rate		12.1	%		10.1	%		13.4	%
Adjusted Charge-Off Rate		11.0	%		9.4	%		11.2	%
Adjusted Charge Offs	$	76,050		$	63,596		$	67,777
Risk Adjusted Margin		27.7	%		32.0	%		28.4	%
Operating Ratio		18.7	%		15.9	%		18.6	%
Period-End Managed Receivables Statistics (2)
Total Managed Receivables	$	2,815,219		$	2,754,125		$	2,493,244
Delinquency Rate (60+ days)		14.1	%		14.0	%		9.3	%
Number of Accounts		3,865			3,773			3,588
Shareholders’ Equity	$	883,940		$	871,217		$	767,211
Equity to Managed Receivables Ratio		31.4	%		31.6	%		30.8	%

(1) Shares outstanding balances exclude 5,677,950 shares that are outstanding at December 31, 2006, December 31, 2005 and September 30, 2006 but that are returnable to CompuCredit under the terms of a share lending arrangement.

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

CompuCredit Corporation and Subsidiaries

Consolidated Balance Sheets

(Dollars in thousands)

	December 31, 2006			December 31, 2005
	(Unaudited)
Assets
Cash and cash equivalents (including restricted cash of $15,104 and $11,065 at December 31, 2006 and 2005, respectively)	$	110,412		$	240,655
Securitized earning assets		801,715			786,983
Non-securitized earning assets, net:
Loans and fees receivable, net (of $118,005 and $100,414 in deferred revenue and $225,319 and $54,240 in allowances for uncollectible loans and fees receivable at December 31, 2006 and 2005, respectively)		653,716			375,919
Investments in previously charged-off receivables		12,871			16,993
Investments in securities		141,657			75,399
U.S. government securities resale agreements		50,577			—
Deferred costs, net		25,762			31,012
Software, furniture, fixtures and equipment, net		63,986			48,383
Investments in equity-method investees		83,038			69,343
Intangibles, net		12,382			13,749
Goodwill		120,115			130,800
Prepaid expenses and other assets		37,666			31,954
Total assets	$	2,113,897		$	1,821,190
Liabilities
Accounts payable and accrued expenses	$	112,453		$	96,483
Notes payable and other borrowings		358,694			165,186
Convertible senior notes		550,000			550,000
Deferred revenue primarily from forward-flow agreement		55,260			67,585
Current and deferred income tax liabilities		112,983			129,283
Total liabilities		1,189,390			1,008,537
Minority interests		40,567			45,442
Shareholders’ equity
Common stock, no par value, 150,000,000 shares authorized: 59,464,216 shares issued and 55,093,686 shares outstanding at December 31, 2006 (including 5,677,950 loaned shares to be returned); and 59,080,610 shares issued and 54,628,020 shares outstanding at December 31, 2005 (including 5,677,950 loaned shares to be returned)		—			—
Additional paid-in capital		321,022			312,752
Treasury stock, at cost, 4,370,530 and 4,452,590 shares at December 31, 2006 and 2005, respectively		(124,084	)		(125,068	)
Warrants		25,610			25,610
Retained earnings		661,392			553,917
Total shareholders’ equity		883,940			767,211
Total liabilities and shareholders’ equity	$	2,113,897		$	1,821,190

CompuCredit Corporation and Subsidiaries

Consolidated Statements of Operations

(Unaudited)

(In thousands, except per share data)

	For Three Months Ended									For Year Ended
	December 31, 2006			September 30, 2006			December 31, 2005			December 31, 2006			December 31, 2005
Interest income:
Consumer loans, including past due fees	$	83,212		$	77,003		$	41,739		$	278,994		$	113,308
Other		5,663			4,524			4,195			19,142			12,307
Total interest income		88,875			81,527			45,934			298,136			125,615
Interest expense		(15,528	)		(12,573	)		(8,831	)		(52,472	)		(33,971	)
Net interest income before fees and related income on non-securitized earning assets and provision for loan losses		73,347			68,954			37,103			245,664			91,644
Fees and related income on non-securitized earning assets		180,084			152,188			100,150			596,411			477,482
Provision for loan losses		(171,777	)		(135,040	)		(53,812	)		(512,579	)		(140,660	)
Net interest income, fees and related income on non-securitized earning assets		81,654			86,102			83,441			329,496			428,466
Other operating income:
Fees and related income on securitized earning assets		53,786			50,837			11,295			200,232			127,779
Servicing income		19,566			19,908			35,309			90,855			143,128
Ancillary and interchange revenues		14,223			9,857			9,627			43,318			28,954
Equity in income of equity-method investees		13,172			42,164			9,738			106,883			45,627
Total other operating income		100,747			122,766			65,969			441,288			345,488
Other operating expense:
Salaries and benefits		12,666			14,523			9,652			50,211			33,815
Card and loan servicing		67,626			65,419			60,976			259,496			238,599
Marketing and solicitation		30,371			24,966			30,326			106,063			95,280
Depreciation		10,094			7,875			5,188			32,843			18,593
Goodwill impairment		—			—			—			10,546			—
Other		45,411			29,082			39,942			130,797			104,475
Total other operating expense		166,168			141,865			146,084			589,956			490,762
Income before minority interests and income taxes		16,233			67,003			3,326			180,828			283,192
Minority interests		(1,069	)		(6,363	)		1,360			(12,898	)		(13,349	)
Income before income taxes		15,164			60,640			4,686			167,930			269,843
Income taxes		(5,459	)		(21,830	)		(1,711	)		(60,455	)		(98,493	)
Net income	$	9,705		$	38,810		$	2,975		$	107,475		$	171,350
Net income per common share—basic	$	0.20		$	0.80		$	0.06		$	2.21		$	3.46
Net income per common share—diluted	$	0.19		$	0.78		$	0.06		$	2.14		$	3.34

CompuCredit Corporation and Subsidiaries

Business Segment Data

(Unaudited)

(In thousands)

Three Months Ended December 31, 2006	Credit Cards		Investments in Previously Charged Off Receivables		Retail Micro- Loans			Auto Finance			Other			Total
Net interest income, fees and related income on non-securitized earning assets	$	36,139	$	14,149	$	24,274		$	5,009		$	2,083		$	81,654
Total other operating income (loss)	$	100,159	$	217	$	153		$	218		$	—		$	100,747
Income (loss) before income taxes	$	13,556	$	9,374	$	3,878		$	(2,343	)	$	(9,301	)	$	15,164
Loans and fees receivable, gross	$	760,825	$	—	$	90,615		$	137,169		$	8,431		$	997,040
Loans and fees receivable, net	$	451,640	$	—	$	82,522		$	113,466		$	6,088		$	653,716
Total assets	$	1,674,896	$	28,988	$	218,809		$	157,500		$	33,704		$	2,113,897
Year Ended December 31, 2006	Credit Cards		Investments in Previously Charged Off Receivables		Retail Micro- Loans			Auto Finance			Other			Total
Net interest income, fees and related income on non-securitized earning assets	$	167,605	$	47,426	$	80,114		$	32,151		$	2,200		$	329,496
Total other operating income (loss)	$	433,904	$	528	$	5,993		$	838		$	25		$	441,288
Income (loss) before income taxes	$	179,829	$	30,079	$	(10,607	)	$	4,280		$	(35,651	)	$	167,930
Loans and fees receivable, gross	$	760,825	$	—	$	90,615		$	137,169		$	8,431		$	997,040
Loans and fees receivable, net	$	451,640	$	—	$	82,522		$	113,466		$	6,088		$	653,716
Total assets	$	1,674,896	$	28,988	$	218,809		$	157,500		$	33,704		$	2,113,897
Three Months Ended December 31, 2005	Credit Cards		Investments in Previously Charged Off Receivables		Retail Micro- Loans			Auto Finance			Other			Total
Net interest income, fees and related income (loss) on non-securitized earning assets	$	52,316	$	7,978	$	17,528		$	7,224		$	(1,605	)	$	83,441
Total other operating income	$	59,979	$	25	$	5,385		$	580		$	—		$	65,969
Income (loss) before income taxes	$	11,270	$	2,312	$	3,209		$	1,139		$	(13,244	)	$	4,686
Loans and fees receivable, gross	$	326,696	$	—	$	57,806		$	144,489		$	1,582		$	530,573
Loans and fees receivable, net	$	204,777	$	—	$	52,001		$	118,189		$	952		$	375,919
Total assets	$	1,405,883	$	36,369	$	200,579		$	159,222		$	19,137		$	1,821,190
Year Ended December 31, 2005	Credit Cards		Investments in Previously Charged Off Receivables		Retail Micro- Loans			Auto Finance			Other			Total
Net interest income, fees and related income (loss) on non-securitized earning assets	$	221,349	$	119,157	$	63,147		$	25,452		$	(639	)	$	428,466
Total other operating income	$	317,359	$	4,320	$	23,229		$	580		$	—		$	345,488
Income (loss) before income taxes	$	199,868	$	92,016	$	9,768		$	6,117		$	(37,926	)	$	269,843
Loans and fees receivable, gross	$	326,696	$	—	$	57,806		$	144,489		$	1,582		$	530,573
Loans and fees receivable, net	$	204,777	$	—	$	52,001		$	118,189		$	952		$	375,919
Total assets	$	1,405,883	$	36,369	$	200,579		$	159,222		$	19,137		$	1,821,190

CompuCredit Corporation and Subsidiaries

Managed Earnings and Reconciliation of Reported GAAP Net Income to Managed Earnings

(Unaudited)

(In thousands, except per share data)

	For The Three Months Ended							For The Year Ended
	December 31, 2006			September 30, 2006		December 31, 2005		December 31, 2006			December 31, 2005
GAAP net income as reported	$	9,705		$	38,810	$	2,975	$	107,475		$	171,350
Securitization adjustment, net of tax		(11,698	)		3,149		582		(1,000	)		(33,478	)
Provision to charge off adjustment, net of tax		21,912			11,415		14,545		70,444			42,852
Managed net income	$	19,919		$	53,374	$	18,102	$	176,919		$	180,724
Managed net income per common share	$	0.40		$	1.07	$	0.36	$	3.51		$	3.53

	For The Three Months Ended December 31, 2006									For The Three Months Ended December 31, 2005
	GAAP			Adjustments			MANAGED			GAAP			Adjustments			MANAGED
Net interest margin on loans receivable	$	83,212		$	73,502		$	156,714		$	41,739		$	94,506		$	136,245
Net interest expense		(9,865	)		6,344			(3,521	)		(4,636	)		2,831			(1,805	)
Provision / charge offs		(171,777	)		95,727			(76,050	)		(53,812	)		(13,965	)		(67,777	)
Other operating income		280,831			(166,221	)		114,610			166,119			(60,154	)		105,965
Marketing expense		(30,371	)		—			(30,371	)		(30,326	)		—			(30,326	)
Ancillary product expense		(412	)		—			(412	)		(654	)		—			(654	)
Operating expenses		(135,385	)		5,538			(129,847	)		(115,104	)		1,963			(113,141	)
Minority interests		(1,069	)		1,069			—			1,360			(1,360	)		—
Pre-tax net income		15,164			15,959			31,123			4,686			23,821			28,507
Income taxes		(5,459	)		(5,745	)		(11,204	)		(1,711	)		(8,694	)		(10,405	)
Net income	$	9,705		$	10,214		$	19,919		$	2,975		$	15,127		$	18,102
Weighted average shares outstanding		50,328			50,328			50,328			50,387			50,387			50,387
Net income per common share	$	0.19		$	0.21		$	0.40		$	0.06		$	0.30		$	0.36
Gross loans and fees receivable	$	997,040		$	1,818,179		$	2,815,219		$	530,573		$	1,962,671		$	2,493,244

	For The Year Ended December 31, 2006									For The Year Ended December 31, 2005
	GAAP			Adjustments			MANAGED			GAAP			Adjustments			MANAGED
Net interest margin on loans receivable	$	278,994		$	364,805		$	643,799		$	113,308		$	417,034		$	530,342
Net interest expense		(33,330	)		20,651			(12,679	)		(21,664	)		6,820			(14,844	)
Provision / charge offs		(512,579	)		273,933			(238,646	)		(140,660	)		(61,273	)		(201,933	)
Other operating income		1,037,699			(586,118	)		451,581			822,970			(378,049	)		444,921
Marketing expense		(106,063	)		—			(106,063	)		(95,280	)		—			(95,280	)
Ancillary product expense		(2,868	)		—			(2,868	)		(1,808	)		—			(1,808	)
Operating expenses		(481,025	)		22,336			(458,689	)		(393,674	)		16,880			(376,794	)
Minority interests		(12,898	)		12,898			—			(13,349	)		13,349			—
Pre-tax net income		167,930			108,505			276,435			269,843			14,761			284,604
Income taxes		(60,455	)		(39,061	)		(99,516	)		(98,493	)		(5,387	)		(103,880	)
Net income	$	107,475		$	69,444		$	176,919		$	171,350		$	9,374		$	180,724
Weighted average shares outstanding		50,338			50,338			50,338			51,228			51,228			51,228
Net income per common share	$	2.14		$	1.37		$	3.51		$	3.34		$	0.19		$	3.53
Gross loans and fees receivable	$	997,040		$	1,818,179		$	2,815,219		$	530,573		$	1,962,671		$	2,493,244

	For The Three Months Ended September 30, 2006
	GAAP			Adjustments			MANAGED
Net interest margin on loans receivable	$	77,003		$	99,482		$	176,485
Net interest expense		(8,049	)		5,581			(2,468	)
Provision / charge offs		(135,040	)		71,472			(63,568	)
Other operating income		274,954			(168,156	)		106,798
Marketing expense		(24,966	)		—			(24,966	)
Ancillary product expense		(720	)		—			(720	)
Operating expenses		(116,179	)		8,014			(108,165	)
Minority interests		(6,363	)		6,363			—
Pre-tax net income		60,640			22,756			83,396
Income taxes		(21,830	)		(8,192	)		(30,022	)
Net income	$	38,810		$	14,564		$	53,374
Weighted average shares outstanding		50,022			50,022			50,022
Net income per common share	$	0.78		$	0.29		$	1.07
Gross loans and fees receivable	$	829,189		$	1,924,936		$	2,754,125