Today’s Credit – A Whole New Ball Game

The CARD Act signed by President Obama in 2009, was designed to protect consumers from unexpected increases in interest rates, decreases in credit lines, and other changes in the services offered by credit card issuers.

Though our economy continues to show signs of improvement, the bottom line is that, because of the recent recession, slower than expected recovery and the resulting changes in bank policies and government legislation, the credit landscape has changed forever. Gone are the days of “easy credit” where almost anyone could qualify for a credit line for almost anything. Credit issuers now operate by an entirely new set of rules.

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