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Companies Slash Customers' Credit Lines

Nov. 16, 2008
Cecil Bello has stumbled into a new corner of the credit squeeze. The 32-year-old management consultant has had the limits reduced on three of her credit cards.
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Credit tightens on recession fears

NEW YORK, Nov. 21 (UPI) -- The U.S. recession has begun to squeeze credit markets, threatening to erase gains made by the government's massive bailout plan, data show.

State Dept. issues credit card warning

WASHINGTON, Oct. 31 (UPI) -- The U.S. State Department has contacted 400 passport applicants regarding a breach of its database that could lead to a credit card scam, officials say.

Downturns put pinch on credit cards

NEW YORK, Oct. 29 (UPI) -- Credit card companies said they are tightening restrictions, lowering credit lines and raising rates as the U.S. economy turns more sour.

Small companies lean more on credit cards

NEW YORK, Oct. 20 (UPI) -- The search for credit among smaller companies is more frequently ending up with a new expense on the company credit card, records show.

Credit card defaults rising, banks say

NEW YORK, Oct. 16 (UPI) -- Credit card defaults are rising among U.S. consumers in an already tightening credit environment, various banks said.
Fed extends $37.8 billion more to AIG

Fed extends $37.8 billion more to AIG

WASHINGTON, Oct. 8 (UPI) -- The U.S. Federal Reserve said it extended American International Group's line of credit by another $37 billion Wednesday.

U.S. credit squeeze freezes Canada

TORONTO, Oct. 5 (UPI) -- Canadian homeowners and business owners are finding that the economic woes of the United States are spilling across the border.

Many use credit cards for cancer treatment

NEW YORK, Aug. 28 (UPI) -- Twenty percent of U.S. adults who experience a critical illness use a credit card to finance recovery-related expenses, a survey indicates.

Chip to enhance credit card security

TORONTO, June 28 (UPI) -- A new processor chip to be added to credit and debit cards should enhance their security, a Canadian industry official says.

Retailers hurting from credit card perks

TORONTO, June 24 (UPI) -- Canadian retailers are complaining about higher costs associated with a surge of premium credit cards that offer users loyalty points and lower interest rates.

Easy credit followed home equity boom

NEW YORK, June 18 (UPI) -- Credit card companies raised spending limits for U.S. consumers at unprecedented rates before the home equity bubble burst in the summer of 2007, reports show.

Poll: More pay off credit card bills

PRINCETON, N.J., June 12 (UPI) -- Consumer credit increased in April but the percentage of U.S. consumers who pay off credit card balances each month has grown, Gallup researchers said Thursday.

Credit card rates climb on bank losses

NEW YORK, April 28 (UPI) -- U.S. credit card companies are raising rates as banks try to make up for losses in other departments, financial experts said Monday.

GAO audit turns up credit card abuse

WASHINGTON, April 9 (UPI) -- Federal employees have been using government credit cards to enhance their personal lifestyles, an audit by a U.S, watchdog agency discovered.

Credit card scammers making own cards

PORTLAND, Ore., March 30 (UPI) -- Thieves no longer need bank data or a credit card to run up big tabs illegally -- they often use trial and error to come up with valid card numbers, police say.
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President Obama awards the Presidential Medal of Freedom in Washington
View Caption
President Barack Obama awards the the Presidential Medal of Freedom to singer/songwriter Bob Dylan during a ceremony in the East Room at the White House in Washington on May 29, 2012. The Medal of Freedom is our NationÕs highest civilian honor, presented to individuals who have made especially meritorious contributions to the security or national interests of the United States, to world peace, or to cultural or other significant public or private endeavors. UPI/Kevin Dietsch