You have probably noticed in recent months that you get fewer credit card offers. If you do receive offers of credit, long gone are the 0% APR or lower interest rates offers. If you have applied for any credit recently, you likely found it harder to be approved.

Why is it when Americans are so in need of credit are banks less willing than ever to offer it in the form of credit cards? They say that now is the time for them to be prudent. Wasn’t one of the main points of the bank bailout – the American tax-payer funded bank bailout – that credit needed to be kept in tact?  After the banks were saved from going under they ceased funneling money to customers. They’re sitting on trillions of dollars of tax-payer money and now the Government has called for additional Financial Reform. Will that make the credit crunch even worse?

Check out a detailed article on this issue:

Credit Card Companies Pulling Back Credit Offers to American Households: Those Zero Percent Offers have now Turned into 30% Offers with Annual Fees. Banks have over $2 Trillion in Excess Reserves yet are unable to Offer a Decent Credit Card Rate.
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