Comments on: The Latest Impacts of the Credit Crunch on Balance Transfer Offers http://www.creditcardwatcher.com/the-latest-impacts-of-the-credit-crunch-on-balance-transfer-offers/ Keeping an eye on the best credit card offers Tue, 07 Feb 2012 07:43:04 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: mybudget360 http://www.creditcardwatcher.com/the-latest-impacts-of-the-credit-crunch-on-balance-transfer-offers/#comment-1173 mybudget360 Thu, 03 Jan 2008 22:44:39 +0000 http://www.creditcardwatcher.com/the-latest-impacts-of-the-credit-crunch-on-balance-transfer-offers/#comment-1173 Absolutely. I've seen the 0 down offers completely disappear from the mail. With the rise of bankruptcies I think many creditors are realizing that they simply cannot offer more and more credit since consumers will take on as much as given to them. With rising costs in other areas, delinquencies are through the roof. Plus, many of these companies are now getting hit with right downs from other divisions and need to get their capital in order. It is odd that these offers are disappearing at the same time the Fed is lower rates. You would think you would see more but banks and lenders are facing heavy losses and only prime customers are getting the VIP treatment. But this has been the case for most of the past. Absolutely. I’ve seen the 0 down offers completely disappear from the mail. With the rise of bankruptcies I think many creditors are realizing that they simply cannot offer more and more credit since consumers will take on as much as given to them. With rising costs in other areas, delinquencies are through the roof.

Plus, many of these companies are now getting hit with right downs from other divisions and need to get their capital in order. It is odd that these offers are disappearing at the same time the Fed is lower rates. You would think you would see more but banks and lenders are facing heavy losses and only prime customers are getting the VIP treatment. But this has been the case for most of the past.

]]> By: Manoj http://www.creditcardwatcher.com/the-latest-impacts-of-the-credit-crunch-on-balance-transfer-offers/#comment-1169 Manoj Thu, 03 Jan 2008 15:35:21 +0000 http://www.creditcardwatcher.com/the-latest-impacts-of-the-credit-crunch-on-balance-transfer-offers/#comment-1169 Chase recently lowered my unused credit limit on a couple of cards citing unneeded credit lines. Then, I had to fax my paystub and bank statements before they reinstated the credit line. I think Chase is being wary of cardholders with a lot of unused credit as they may file for bankruptcy for other reasons like mortgage default and just before doing so may max out their credit cards too. Chase recently lowered my unused credit limit on a couple of cards citing unneeded credit lines. Then, I had to fax my paystub and bank statements before they reinstated the credit line.

I think Chase is being wary of cardholders with a lot of unused credit as they may file for bankruptcy for other reasons like mortgage default and just before doing so may max out their credit cards too.

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