Card Games - Credit Card Companies Tighten Up

According to an article today in the Wall Street Journal, credit card companies have begun to tighten up their credit card offers. Some companies, like Citigroup are requiring higher credit scores, some are lowering the credit lines they offer.

These stricter rules are more than likely due to the poor earnings the companies have had recently — I am guessing that a person who can’t pay their mortgage also can’t pay their credit card bill. Until the economy turns around this trend will probably continue.

It was interesting that J.P. Morgan Chase mentions that they are cutting back on promotional offers to “gamers”, folks who transfer balances frequently or take advantage of low-rate offers. Guess they are not wanting to play the App-O-Rama game.