CIBC to reduce their credit card lending
CIBC have announced a reduction in credit card lending following their announcement of their annual results earlier.
Canadian Imperial Bank of Commerce will continue tightening credit card lending and is forecasting “slower demand” for mortgages, noting the fading economy will likely spur a bigger rise in personal bankruptcies in 2009.
I can’t help but feel that those of us who keep our credit cards paid off monthly will get punished by this.
Ah well, not like I _have_ to use a credit card.
Alan
December 6, 2008 at 4:44 pm