Credit Card Crisis

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By Ryan Harris

Summary

Banks are being more selective when it comes to issuing credit cards. You should also be selective when it comes to spending with a credit card. Your financial security could depend on it.

Story Published: Oct 1, 2008 at 5:54 PM PST

The economy is faltering like a newborn deer, but so may your credit rating, if you rack up credit card charges in an irresponsible way. Banks are being more selective than ever before when it comes to giving out loans. Credit cards limits are being reduced, student loans are being yanked, and banks are paying more attention to your credit history. If you don't use it responsibly, your credit history and financial statue could be ruined for years.