Monday, November 24, 2008

Americans dumping credit cards, returning to good,old cash...

Cash or credit? For more Americans, who have already maxed out their credit cards or are just trying to manage their spending better in the tough economy, the answer is increasingly the old-fashioned one.

Retailers like Wal-Mart Stores Inc., Target Corp. and J.C. Penney Co. are noticing a marked shift away from credit cards in favor of cash and debit cards. A big factor is less credit available as major card issuers cut spending limits and raise fees even for customers who pay their bills on time.

The shift ends Americans' long love affair with credit cards and is one of the changes in consumer behavior that has emerged since the financial meltdown that could depress consumer spending this holiday season and affect shoppers' habits long afterward. More...

See also:

  1. British town Lewes to create its own currency...
  2. Indebted Americans get calls to pay up … from India !!!
  3. 6-year-old applies for and gets a credit card!!!
  4. Are you a Credit Card slave?

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