Reacting to the Changing Credit Card Environment

by Dual Income No Kids on February 4, 2009 · 0 comments

Hi All,

We are both really busy today. Miel is currently in Congo taking care of a development program that’s gone bust and I’m plowing through 300 pages of a historical discussion on statistical methodology, so this posting will be brief.

There has been a lot of changes in the credit card industry.  After publication of numerous abuses in back in 05 and 06, congress and the federal reserve have clamped down on the card companies.  Instead of a lengthy explanation on the history of how this happened, here is a very quick summary by MoneyTalksNews.  More importantly, the video tells you how to react to the changing credit environment. Their advice: keep your balances low and keep an extra account open to demonstrate good credit.

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