Well, it’s about time.  Credit Card companies like Bank of America, Citigroup and JPMorgan Chase currently hold over half of outstanding credit in the U.S.  Each company is decided how to reduce card debt and slow down the growth of that debt.  “With the current economy conditions — I don’t know how one justifies spending money their don’t have.  However, people manage to abuse lines of credit all the time.  Why does a company need to restrict a person spending — doesn’t the person know they will not be able to repay”.

 
Nevertheless, Credit Card companies are putting their foot down, but we all might pay.  In efforts to reduce credit debt, Credit Card companies are planning to cut credit line amounts, raise interest rate and close accounts.  Some analyst suggest this will cause consumer liquidity.

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Other Resources

• 2010 Rules For The Credit Card Industry
• Economic Forecasting – Inflation Forecast
• Frugal Tips For Your Electricity Bill
• Debt Consolidation Principles