Jacksonville Business Daily

Will banks start declining credit card transactions?

If there's a "credit freeze" does that mean that it could extend just from loans to credit card transactions?

Public Comments

1. They might cut your credit limits but they won't decline credit card transactions. Many business have seen their line of credit reduced by their banks and are now using credit cards to pay their bills. Usually banks allow a longer grace period to pay off the short term loans. Credit cards is like 45 days only!
2. Banks have started cutting the credit lines for everyone with less than good credit (FICO < 700). They will start to freeze the cards (meaning the cards won't work anymore) for people who have poor credit.
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