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<<This intersting fact in this article is that people are becoming much more foolish in their debt financing. That is not financing it on credit cards now but with Home equity loans, the artical stated even up to 125% of house value. The article speculates that is more the reason for the lowering of delinquient payments to a 3 year low verus people paying off balances or just makeing payments on time. >>

I read the article too - they had it in todays Pittsburgh Post-Gazette (AP carried it). That statement came from a credit counselor, he didn't mention any statistics to back it up. That's not a good source on how people use credit, since he just sees people in trouble.

Read some of the posts on our AOL credit card board, you can see how bad people get in trouble with their cards. If you dealt with people like that all day, you'd quickly get the opinion that nobody handles credit well.

My guess is a lot of card issuers won't lower their standards, but we'll see more and more cards charging fees, and less rebates.
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