Expect Tidal Wave Of Limit Reductions and Credit Card Closures to Hit Before Christmas
Yesterday I wrote about a little old hardware store that had noticed an increase in card purchases over cash. That’s not a good sign if people are using plastic more for routine things and especially in this environment of credit card issuers reducing credit limits, raising interest rates and closing cards.
You see, the credit card [...]
Soon, Where You Shop Will Control Your Credit
Information is already leaking out about the efforts of American Express to closely watch the places their card members shop at as an indication of credit problems.
With mounting losses by credit card companies and an avalanche of new bad credit card debt to come, creditors are looking for ways to identify potential high risk customers [...]
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Daniel Writes In - “How Can I Get Out of Credit Card Debt?”
Daniel says, “I’ve been buried in credit card debt and it feels like I make payments each month and instead of things going down, things go up. My interest rates recently went up even though I have not missed a payment or paid late. Another one of my MasterCard’s just lowered my limit a lot. [...]
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