Lowered Credit Card Limits May not be a Bad Thing
In recent weeks, newspapers have reported that high street banks are slashing credit card limits and turning down more applications than last year. In addition, banks are purportedly monitoring credit card users more closely for impending signs of trouble. Bank chiefs say that, in the wake of increased levels of consumer debt, they hope these measures will cut the cost of servicing problem borrowers. A Barclays spokesperson claims this has nothing to do with the recent credit crunch, but is a result of a review of credit card policies started last year â " its actions follow Barclaysâ disclosure of impairment charges of  1.5bn in its credit card business. ...
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