In the 2008 financial crisis, banks battered by losses on mortgages ended up slashing spending limits on credit cards, sometimes even for creditworthy borrowers. AP
In the 2008 financial crisis, banks battered by losses on mortgages ended up slashing spending limits on credit cards, sometimes even for creditworthy borrowers. AP

Money

US credit card issuers cut spending limits for people facing tough times

Lenders are expecting to take a hit from letting existing borrowers skip payments

Bloomberg

April 23, 2020