Released: June 21, 2008

Banks trimming limits for credit cards

Source: Eric Dash, New York Times (Free Registration)

The easy money that led Americans to depend on credit cards to pay their bills is starting to dry up.

Banks that issue cards like Visa and MasterCard, as well as the American Express Company, are cutting the limits for customers who have run up big debts, live in areas that have been hit hard by the housing crisis or work for themselves in troubled industries.

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