happydawg asked:
I have several credit cards. Most of them have a zero balance. I do notice the credit card companies keep sending me blank checks wanting me to take advantage of low interest rates theyre offering.
Will the financial troubles have any effect on my credit cards? If so, what?
MICHEAL
I have several credit cards. Most of them have a zero balance. I do notice the credit card companies keep sending me blank checks wanting me to take advantage of low interest rates theyre offering.
Will the financial troubles have any effect on my credit cards? If so, what?
MICHEAL
JOEY
The government is talking about eliminating 0% interest teaser rates on credit cards. This is probably why we are getting those blank checks with 0% interest right now. It is possible that credit card companies may lower credit limits, and even cancel the accounts of some customers in order to reduce bad debt liabilities. There is likely to be a wave of credit card defaults in the near future, which may trigger some of this activity. If you have a good relationship with your credit card companies I doubt you will be personally affected.
Good Luck.
Comment by DANIAL — September 11, 2009 @ 3:10 am