Credit Card Companies Tighten Their Belts

A number of recent articles in the Wall Street Journal as well as MSN money have cited reports that credit card companies are pulling back on consumer lending.  One area of particular concern to saavy credit card users is the 0% APR offer.  In an MSN Money article published Monday, the author explored the ominous theme, “Are 0% APR Offers Disappearing?”

As of now, the number of 0% offers hasn’t changed.  However, recent visitor feedback seems to indicate getting approved for a top tier deal, such as a 0% APR on purchases and balance transfers for a year, is getting harder.  A number of visitors who believed they had very good credit wrote they were either rejected or recieved a card with a lower than expected credit limit.

 Smart Credit Choices will be monitoring the situation.  As more details become available, we’ll let our readers know here.