April 20, 2009
Author: William M. Davis
Credit Card Applications – What To Believe?
You must be receiving several mails for credit card applications. They come with a tag saying that you are ‘pre approved for credit cards’. Isn’t that good to hear? But listen carefully; you have been pre approved for making an application for a credit card. It just means that there is still a long way to go before you could get your credit card.
Then what do you mean by getting a number of mails everyday asking you to apply for credit cards? Well the answer is very simple in the sense, all credit …
April 6, 2009
Author: William M. Davis
What Is A Credit Crunch?
An economical condition which experiences non availability of loans or credit is called a Credit Crunch. It becomes impossible for individuals and organizations to borrow as the lenders and lending institutions are not willing to offer money to the borrowers fearing a fallout and bankruptcy due to economic meltdown.
When Does The Scenario Of Credit Crunch Come Up?
Such a scenario arises when the availability of funds in the credit market becomes tight. Lenders stop lending fearing the losses incurred in their previous lending transactions. Consequently, the interest rates on loans have been increased tremendously, which makes it …