Credit Cards - V

The credit companies will suffer because there were massive credit line adjustments slashing available credit lines. With the Obama consumer credit protection bill, there were massive credit line adjustment which will reduce transactions in US. I am hearing massive credit line cut. e.g. 20,000.00 credit line to 1000.00 and one credit card user has a few to several cards. That will reduce the purchasing transactions as well as this holiday spending. Furthermore there are 100,000s unemployment benefits suppose to run out by EOY. So, the outlook is not rosy.

http://www.cnbc.com/id/33496724/

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• Reuters isa Inc (V.N) posted higher-than-expected quarterly earnings on Tuesday, as consumers used their debit cards more, and the company raised prices, sending shares up 2.4 percent.