Consumer Warrior Clark Howard has noticed a trend with credit card companies slashing credit limits or people going to use their cards and getting declined.
“I cannot remember something like what’s going on right now,” Clark says.
He says people are getting declined because their banks are afraid customers will default on them.
“They are, without notice, cutting your credit off,” Clark says.
Clark says the best thing to do is to make sure you have at least one other card with another bank or credit union.
“When I say credit card, I don’t mean store cards,” Clark say. “I mean a Visa, Master Card, Discover or American Express.”
Cox Media Group