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New Credit Card Rules Will Force Banks To Reduce Credit Lines, Close Accounts

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New Credit Card Rules Will Force Banks To Reduce Credit Lines, Close Accounts Empty New Credit Card Rules Will Force Banks To Reduce Credit Lines, Close Accounts

Post  Guest Fri Dec 19, 2008 4:42 pm

http://consumerist.com/5114416/new-credit-card-rules-will-force-banks-to-reduce-credit-lines-close-accounts

Here's another reason to wean yourself off of credit cards, and build up a robust emergency fund, in 2009. An Oppenheimer & Co banking analyst has warned that the new credit card rules meant to go into effect on July 1, 2010, will have the unintended consequence of "reducing liquidity at a time when consumers need it most."


This sounds like a great side effect to me. Too many people with credit cards who shouldn't be using them.

I have ONE credit card, with no physical card. If I need to use it, I'll have to order a replacement. Which will then get cut up again after the use.
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New Credit Card Rules Will Force Banks To Reduce Credit Lines, Close Accounts Empty Re: New Credit Card Rules Will Force Banks To Reduce Credit Lines, Close Accounts

Post  floridafun Sat Dec 20, 2008 8:48 am

i just wonder why it wont go in place for a year and a half..?
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