Quote:
Originally Posted by MRock
The decline in sales has another factor I have not seen anyone mention yet. The damn card companies are reducing the limits on everyones cards. I had it happen to me this week. Pissed me off. I have a card I've been paying 3x the minimum required for the last 6 months. My goal was to clear it off, then use it for Christmas purchases. To make a long story short, perfect pmt history, never late, reduced my purchasing power by 5k. I just might cut the f'ing card up ...
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I've been hearing about lowered limits for a few months, and it's been something I've been keeping my eye on -- but haven't heard much about inside the industry registering concern about. When I've mentioned it as a concern about our purchasers, I've been kinda "poo-poohed" as it being a concern.