by ccco on February 12th, 2009, 1:29 am
We receive a lot of queries regarding Business Credit Cards and Credit Cards in general. People ask why all business and most credit cards were removed and when they would be back online for applications.
Most US banks - in particular CitiBank, Chase, Capital One, American Express, etc. - start saving plans and have removed many cards from their networks because of the current crisis and upcoming recession period in order to safe extra money for internal strengthening and recover strategies. However, we believe that within few (most probably 3 to 12 months, if situation would not get worse) banks will be back on track and most of cards will be reactivated for online applications. At the moment we advice people to start controlling their budgets more firmly and thing about secured, prepaid and debit cards if required in order to reduce spending and live on tight budget within this period.
"Keep your business spending low, love your clients and take care of you employees as never before and we would all survive the crisis with minimum damage!" -- our boss said few days ago and we, creditcardsco team, honestly agree with him. Do you?
CreditCardsCo.com
