consumer debt Tag

10 Oct Consumer Credit Likely to Tighten

The Wall Street Journal reports that credit card companies are likely to restrict access to unsecured credit as a result of increasing delinquency rates and the general downturn in the economy.   Currently unused credit card availability exceeds $4 trillion, and banks are concerned that cash strapped consumers will turn to credit cards in the event of job loss or inability to access long term sources of credit like home equity lines or even car loans.
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