online.wsj.com - 1/5/2009
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SHELLY BANJO As if access to credit wasn't already tight, credit card companies are slashing consumer credit lines and closing inactive cards - a move that could harm borrowers' credit scores and restrict access to loans. "Card issuers are playing defense, "trying to limit their risks in "the ...
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Five Things You Need to Know: Get Out Now!
Minyanville —
... is actually declining, then your real return is much higher. Meanwhile, in the "real world," real interest rates remain impossibly high, infinitely high in some cases, all of which is simply a fancy way of saying credit is tight, and in some cases completely unavailable for consumers and businesses. Credit Really Is Tight Look, I'm not just making this stuff up. Credit really is tight. Today the Wall Street Journal ran a piece noting some things you may already have noticed: "Credit Card Companies Slash Credit Limits." According to the Journal, about 20% of banks reduced ...
Credit cards: Another catch 22
BloggingStocks —
... The Obama administration wants to pass a stimulus package of about $700 billion dollars. But back at the ATM customers are finding their credit limits slashed and their access to credit being shot down. About 20% of banks are reducing credit limits for prime borrowers and 60% of banks lowered limits for nonprime borrowers. ...
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