Released: October 05, 2008

Current crunch puts squeeze on credit

Source: Eileen Ambrose, Baltimore Sun (Free Registration)

Consumers are not just having a tougher time getting auto loans and mortgages. The credit crunch and weak economy also are taking a toll on credit cards.

Maybe you have noticed that you’re getting fewer offers for credit cards in the mail these days. If you have iffy credit, you might find it difficult to qualify for a card now. Or you may be able to get one only at a high interest rate.

Even if you’re not shopping for a new card, you might not be immune from the changes. Your card company might reduce your credit limit or cancel a card you don’t use.

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