Entries about student credit cards
Owning credit cards during an economic downturn might look very different than it has the past decade. Like mortgage lenders, banks who offer credit cards are tightening their lending standards. They are decreasing credit limits, increasing interest rates and closing accounts that have been inactive too long. Many banks have already decreased credit limits for consumers in good standing. Customers who are considered subprime have been hit the hardest though, as over 50 percent of them have had their credit limit decreased.