If paying back cc debt is the goal; and if banks want to minimize default rates; why are they making it HARDER for consumers and businesses with good credit scores and payment histories to pay their debts by lowering credit limits, and raising interest rates?
We were doing fine paying down debt until 3 banks decided to raise our interest rates this month.
Now we're seriously considering bankruptcy as our minimum monthly payments barely touch the principal owed and are double what they were last month. This after we taxpayers just loaned these banks billions in a bailout??? Just not fair!!