Jun 01
The Sacramento Bee newspaper reported in early May that according to the major credit rating agency Moody’s, defaults on credit card payments are about to hit their lowest level in 20 years. Credit card defaults will reach a 20-year low by next year, Moodys Investors Service said Monday, as card issuers remain choosier in their lending practices.
For the past few years card companies have dealt with billions of dollars worth or lost revenue due to uncollectible credit card debt. They made it harder to get credit card applications approved, they raised penalties and rates, and they lowered lines of credit for their customers. B
Tags: Credit Card, Low