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Current customers whose accounts are in good standing are even faced with term modifications as a result of the tighter restrictions. Banks have increased interest rates and fees, raised the required minimum payments and lowered credit limits. It is estimated that the current interest rate is an average of just over 12 percent. That translates to more money owed if you do not pay your balance in full each payment period. A lower credit limit for those who carry a balance means a higher debt to credit ratio, which can adversely affect their credit scores.