Nov
29
Almost every financial magazine carries the news these days that the bankers are worried about the bad credit. This means that people, who take the credit card, use it to the maximum and then are unable to pay the interest. Many of them are not even able to pay the minimum surcharge. This leads to bed debt. The credit rankings of such customers are also spoilt. But bankers are not concerned about your credit rankings. They are only concerned about how to get the money back and how to avoid such circumstances in future.
There have been several conferences among these bankers and here are the possible results that may apply to the future of the credit cards:
• The customers will be convinced to apply for secure credit as against unsecured cards.
• The interest rates on unsecured cards will be increased further, thereby forcing the customers to go for the secured credit cards.
• The credit limit on the unsecured and student cards will be lowered up to 50 per cent so that even if the banker suffers any loss, it will be less compared to the current losses.
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