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The Crash is here
Posted: Fri Oct 31, 2008 11:50 pm
by Brad Brady
A buddy of mine walked into the shop today and showed me three letters he got from Chase Bank...one for a BP credit card he doesn't use.....dropping him because his credit is over what they think he can pay....(balance -0)..... and The other two lowering his credit limit to what he owes.
I don't know ....but maybe Chase is in more trouble than my friend....(just the heads up!!!)
Re: The Crash is here
Posted: Fri Oct 31, 2008 11:53 pm
by GAHorn
He may be carrying high revolving balances relative to his stated income. This relationship is watched by card companies even in good times.
Re: The Crash is here
Posted: Sat Nov 01, 2008 12:11 am
by Brad Brady
gahorn wrote:He may be carrying high revolving balances relative to his stated income. This relationship is watched by card companies even in good times.
I understand that George.....but last month both cards were increased (according to him) and this month he is looking to do no better than pay his cards off......which according to him isn't a problem.....but he is looking to other banks......