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The rules of credit cards are changing on a daily basis. Credit card companies are now using “behavioral analysis” to determine credit card limits and the reduction of those limits based on what other people are doing! Check out this article from ABC…
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Of course,with this current economic trends, we should learn how to protect our credit in order to avoid the dirt. Thanks for sharing.
during these tough times, most credit card companies are cancelling credit cards of people with low credit score or those with heavy debt. Lot of background checks are goin around to see if the guy has any ability to repay. Mostly people who lost their jobs have lost their credit cards as well. Banks dont want to repeat the sub prime loans mistake.
How do the banks get away with the BOE or FSA not telling them to reduce the cost of credit cards its at an all time high and crippelling many people.