Do you wonder why the credit card rates are sky rocketing. Some might believe it’s because the government is regulating the banks come February. I thought that myself at first, but what if the big banks are projecting the economy is going to get worse.

 This would make more sense of why they are trying to real in the money and lowering the credit lines. Do you think these banks are positioning themselves for hard core economy times? The banks number one goal is to cut the credit limits in the world. This would lower their short term and long term risk. So with job unemployment at an all time high, the person that hasn’t lost their job yet would be forced to either pay off their credit card or pay off the balance due. The banks are raising the minimum payment and raising cardholder rates. Putting the Card holder in a no win position. Most card holder don’t have the cash to pay the card off so they have no choice but plan B. Plan B is Bad Credit because they just can’t pay. 2009 was a tough year for the American people but we will have to see how 2010 pans out. Remember feed your families first, keep a roof over your head then pay these crooks if you have anything left.  If this has happened to you please post your story on beheardbyamerica.com.  We need to educate & inform all Americans. It will help us all in the long run.

Darren Bryant