Plastic the next credit crunch

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investorzzo's picture
Status: Diamond Member (Offline)
Joined: Nov 7 2008
Posts: 1182
Plastic the next credit crunch

 The writing is on the wall. Last week American Express was offering
$300 for people to pay off their credit card balance. Don’t you think
other credit card companies will follow suit? When and if credit card
companies start contracting credit lines, it is obvious consumer
spending will fall even further thereby hurting the U.S. economy. The
next domino is ready to fall.

britinbe's picture
Status: Gold Member (Offline)
Joined: Dec 28 2008
Posts: 381
Re: Plastic the next credit crunch

This would hit business hard as well.  Modern business travel relies on a CC as the basis for all expenses.  I for one would be less willing to travel if I had to pay cash out of my own pocket for a work trip.... will be interesting to see.  More pieces of the jigsaw are fitting into place

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