November 8, 2007

Banks put pressure on credit card users

Surprising as it may seem, in the past two months or so the banking industry has added nearly 125 different rate increases and other fees in order to obtain even more money out of their customers. This coupled with the fact that there has been a huge increase in the amount of credit card applications that are being rejected, should tell us something, but decided what, is another matter.

It would seem that the banking industry is going to try go back a few years when it was a lot harder to obtain to sort of credit that people are having to cope with these days, maybe it has something to do with the problems that happened across the water or maybe it is that they have been just over doing it a bit and everything is catching up with them, exactly the same as it is doing to the average person in the street.

Source [Daily Mail]