Saturday, November 15, 2008

Death of the Credit Card Economy?

Credit cards are not on the street? Not quite. But lenders tightening. It is becoming increasingly difficult to obtain loans, a situation familiar to many.

The most revolutionary concept in trade today is one of the oldest. If you want to buy something you actually pay in May. We Return to 'buy and make "economic" cash and carry "model of our grandparents.

In this article with a sense of humor in connection with the use of credits as follows:

Imagine a restaurant and not as charging 30 U.S. dollars for food, which pay 50 cents per bite, a server with a permanent collection of the table after every chomp. It would be extremely unpleasant to eat. But credit safe distance between the consumption of ecstasy and the agony of payments and thus makes us feel better.

Thus, it would be so terrible if the loan is more difficult to access? I think that depends on who you ask ...

The average consumer has little debt and low savings. Limited access to credit in May, "Huda not good" when it becomes difficult for themselves in danger. Goodbye, impromptu visits to Bermuda (or even mall)!

But it could clarify whether the problem of so-called "good credit" is more difficult. For example, financial aid group, the participants discussed, as it becomes increasingly difficult to obtain student loans. If I understood correctly, the law under the auspices of the federal government, awards should be granted. But if you're like most students and the need for a "gap" is ready to fill your personal resources, and government loans, can increase the interest rates on your account.

Lenders generally do not collect a lot of sympathy. But you can certainly imagine that in recent years they lose money for people who can not pay for the return. It is not surprising that they are tightening the belt!

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