Well we have heard that it was coming, but it looks like many major credit card companies like American Express and Bank of America are slashing customers’ credit limits.

Even customers with good credit and who were far from maxing their credit cards out are being affected.  Officially, some creditors claim it is in preparation for the new credit card laws that will be enacted in 2010.

Hurting Credit Scores, Causing More Problems

Even if you no longer use your credit card or are just trying to pay it off, this will still negatively affect you if you carry a balance.  Let’s take a look at a very good friend of mine’s situation. (more…)

Be sure to consider debt settlement’s pros and cons before deciding to settle your credit card debt! One option to reduce debt seems to be gaining increased attention and interest among people burdened by credit card debt today.  This method is debt settlement, which is also commonly referred to as debt negotiation.

The increased attention towards this mysterious method of debt reduction is due to many factors.  Increased marketing efforts both online and off, seemingly extraordinary promises, and controversial coverage all seem to contribute to the buzz.

So for all of you readers wanting to learn about settlement, today is your lucky day. (more…)