Credit Card Companies Slash Credit Limits

Credit card companies are slashing credit limits just to protect themselves from the worsening economy.

There are many businesses – home businesses and others – that get their start up “financing” through credit cards.

If that’s you, brace yourself if you haven’t gotten one of these notices in the mail.

The credit card industry is fearful that they’ll implode next year so they’re cutting their losses. You’re considered their loss that’s about to happen.

So what’s a business to do as credit lines are being slashed? As I recall there are a number of creative suggestions here: Starting on a Shoestring: Building a Business Without a Bankroll

At this stage of the game, learn all you can about how to “bootstrap” a business. That will be the key to advancing in hard times.