I always listen to talk radio whenever I am in my car, and this is what I've been hearing...

Credit Card Companies are decreasing people's credit limit! And it is not just to those who make late payments or miss payments...but also to those responsible borrowers who continually make their payments on time or pay their balance in full each month.

One gentleman who called in said his limit was cut by more than 50%! He was holding a $1900 balance, had a $5000 credit limit...and then one day was informed his available balance was only $100! That's just ridiculous.

With all the restrictions and tightening of credit, this is only making it worse. One factor that contributes to your credit score is the ratio of your total outstanding balance to your total credit limit. In this man's case, his went from 38% to 95%! 

What does this mean to you?...

It will only make it more difficult for people to borrow money. And not just to own a home, but to buy a car, get a student loan, purchase new appliances or to make home improvements.

I would love to hear your thoughts on this...