A Look at Credit Card Issuer Cuts in Credit Lines
In an article titled "Credit Line Cuts Could Boomerang", Maria Aspan writes for the American Banker about the various actions now being taken by credit card issuers to reign in credit risk "could soon start causing their customers to do something many homeowners did this year: walk away from their obligations." Aspan cites former credit card industry executives who say that cards with little or no purchasing power left (because of credit line cuts) rank low in terms of consumer's propensity to pay.
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