Sunday, February 8, 2009

Late Payments on US Credit Cards Reach Record High Levels

This is not surprising. Credit card companies are watching cardholders very closely. If they see your credit rating drop, they will cut your credit line . They are also cancelling cards that are currently inactive. These actions effectively cut off the only lifeline for many families.-Lou

Late Payments on US Credit Cards Reach Record High Levels

Growing signs of trouble in the credit card debt sector are documented in Fitch ratings’ latest monthly Credit Card Movers & Shakers report. However, Fitch does not expect many negative ratings actions in the short term.

“Late payments on U.S. credit cards topped record levels and defaults rose sharply to just below all time highs last month as consumers struggled further amid the deteriorating economic environment.”

Read Article Here:

http://www.researchrecap.com/index.php/2009/02/06/late-payments-on-us-credit-cards-reach-record-high-levels/



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