Credit Card Issuers Tightening Their Belts

Here is an article from CNBC today.

http://www.cnbc.com/id/27011843

One of the fall outs from the credit crunch of late will be consumer spending limits on credit cards. The main credit card issuers are signaling that they plan to close dormant accounts and overall reduce spending limits on cards. This is a good indicator that the easy come credit markets have permanently changed. Further, if you have 'dormant' cards that you planned on using or if you are carrying a high balance on a card you still depend on, now might be a good time to start working on changing your debt habits, before the bank changes them for you.