• Credit card companies continue to tighten up
    • By:
      Even people with long credit histories who make credit card payments on time are seeing credit lines reduced, interest rates increased and fewer offers in the mail for new credit cards.

      Major banks, which have suffered heavy losses from the mortgage crisis, are trying to minimize their risk as more Americans are falling behind on credit card payments at an alarming rate.

      Almost anyone who had a name and address could qualify for a credit card not too long ago, but more card companies are shifting their marketing goals from quantity to quality while keeping a sharp watch for any sign of financial hardship. Credit card payments are often the last bills to get paid when there's not enough income to meet household needs.