Credit Card rates and securitization

Interesting article about the current credit card business. If you carry a balance you really want to look at the part about the rates going up.

Why banks are boosting credit card interest rates and fees - USATODAY.com

Good point. And good link. Thanks for sharing.

And speaking of credit cards....

If you are still getting credit card offers for new cards AND they tell you apply and you are pre-approved, AND there is no annual fee, I STRONGLY suggest you take those offers and get new cards.

Try to apply for two or three at the same time, this will have the less impact on your credit score.

This new credit card will increase your credit limit, one of the components of your credit score. This will make your Debt-to-Limit Ratio better and will raise your score.

It will also help as probably credit card companies will cut limits all over the place, so with new lines you have access to more credit in case you need it.

Banks are short on cash and are going to try to raise some.

I used to get a ton of credit card offers, but now that I think about it I havn't gotten that many lately. I guess its a sign of the times.