Credit Card Companies Lower Limits, Close Accounts For 50-Million Americans
(Undated) — About 50-million Americans are seeing their credit card limits cut or their accounts closed because of the coronavirus pandemic’s effects on the economy. A new study by Lending Tree found that one in four credit card holders have either had their credit limits cut or their accounts closed during the past 30 days. The study says lenders made the decision a month ago to protect against losses in case cardholders couldn’t manage their payments as the unemployment rate has skyrocketed. More than 30-million Americans have filed unemployment claims over the past six weeks.
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05-06-2020 01:05:04
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