Credit card holders are using less of their cards or shutting them down altogether due to credit card companies lowering their credit limits but raising interest rates, according to the
Washington Business Journal.
A survey showed that most consumers who have seen the new terms have changed their charging habits. Almost 40% stopped using their card, closed their account and 55% use their card less. Only 9% of surveyed consumers have applied for a new card with another issuer.
Read the full article at the
Washington Business Journal by clicking
here.
