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Americans do not use credit cards

24 February 2009

Credit cards market has difficult times now. Many clients close their accounts while banks toughen access conditions to credits and raise interest rates.
The most interesting is that, that credit cards users became more conscious: if earlier Americans made practically all purchases on credit now they try to save and use credit cards only in case of emergency.
Moreover, some experts notice, that against growing unemployment and aggravation of a condition of the American economy consumers try to buy only the most necessary things. According to bank analysts, so sharp decrease in purchasing capacity testifies of credit crisis aggravation. In particular, the expert believes, that accessible consumer liquidity in the form of demand lines of credit will be reduced on 45 %.
However, debts on credit cards can bring big problems to the large banks, in particular, to JPMorgan Chase and Co, Citigroup Inc, American Express Co and Discover Financial Services.

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