credit limits

Report Says Banks to Slash Credit Card Limits by $2 Trillion

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No more charge it now when you don't got it?

Credit card companies may slash credit limits on credit cards by $2 trillion dollars.

Whitney, an analyst and managing director at Oppenheimer & Co. who predicted the current financial-services industry meltdown, now says credit-card issuers will eliminate more than $2 trillion in available credit over the next 18 months.

I'm not sure if they can lower credit limits when one has already used it, but for all of those who are losing their jobs and probably credit cards will be the last option, this is not good news.