It’s Time to go on a Debt Diet
June 24, 2009 by admin
“Carrying around a few thousand dollars in credit card balances may have seemed perfectly acceptable a few months ago. But in this financial crisis, it can be downright dangerous to your financial health. Credit card companies are jacking up rates and fees, making it easier to fall deeper in the hole. And during a recession, when the possibility of layoffs looms larger and most of us feel increasingly vulnerable, debt becomes even more pernicious.”
Source: Wall Street Journal
Editorial Notes
This entry shows how the big banks in the United States are jacking up there fees and charges in order to compensate for the international credit crisis. Could this trend occur in Australia? If so what do you think about this tactic by the big American Banks?
