Credit Limits Cut by Barclaycard: is this just the start
By: Daniel Chubb | September 24, 2007
We have grown into a population that can get credit easy and we are also chased to borrow money with phone calls from companies trying to give us money daily.
Well all this looks like it’s about to change, the first step from Barclay’s is to cut credit limits of half a million customers on there Barclaycard.
They have done this to try and stop these people defaulting on debts; it’s funny that they did not think more like this when they were chasing people to borrow money.
So are a lot of people in debt up to their eyeballs, hell yes.
Who is to blame, well I would say it’s the people for borrowing money and the credit companies for being allowed to chase new business so easily.
The criteria to be a new customers has been tightened by Barclaycard, although it maybe to late for many.
What do you think of the whole debt situation?
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