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Credit Card Companies Plan To Shrink Limits For Millions Of Americans

Cc

First Posted: 09/28/09 06:12 AM ET Updated: 05/25/11 02:55 PM ET

NEW YORK (Reuters) - Millions of Americans have already seen their credit card limits shrink, and millions more face the same fate as lenders prepare for tougher U.S. consumer protection rules.

Since the financial crisis deepened a year ago, credit card companies have been closing millions of inactive accounts, cutting credit limits and raising interest rates to cushion themselves from record loan losses.

Read the whole story: Reuters

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Filed by Ryan McCarthy  |