Thursday, November 6, 2008

Credit Card Crisis Next?

Dealing With The Next Crisis
The mortgage meltdown is by no means over, but now consumers need to brace for another economic crisis--credit cards. According to the consumer Web site, at the end of last year, U.S. consumers owed more than $961 billion in credit card debt. Although not as large as the $11 trillion mortgage market, that's still a lot of lost cash and lenders are starting to feel the consequences of the huge lines of credit they have been allowing. American's have been borrowing more money than they can pay back, and credit card companies have been there to support the habit every step of the way.

No comments: