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Are Credit Cards Getting Worse?

May 21st, 2010

frustratedA recent FICO sponsored survey polled 127 risk managers at US firms. 83% of those polled said they expect credit limits on new credit cards to be lower than they were in the past and a whopping 95% said they expected credit card interest rates to stay the same or move higher. Additionally, 85% of those surveyed said that the recent credit card act passed by congress will cause interest rates to rise even more. Now it could be that people are just pessimistic when it comes to credit card companies, or they could be on to something here.

personal finance

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