Financial Crisis and the Credit Card Industry - Flat Growth?

While the world is worried about the financial crisis, the Credit Card Industry will still keep its pace at least in the developing countries. The fact of the matter is plastic replacing currency everywhere will still occur at a very high rate. In addition, when other consumer lines of credit availability go down, people will certainly have one more reason to take their credit cards out of their wallets and put them to good use. The concern now relies on banks and the risk that cardholders might default their credit card monthly payments. Nevertheless, this writer believes the delinquency rates will still be the same, maybe marginally higher, nothing that banks profits and current allowance for bad debits can´t accommodate. More than ever, the plastic money will play its role in helping the public to nagivate through the rough waters ahead and make it safely to the shore. My advise is just for people not to try to take advantage of the certainly higher credit cards offers, like balance transfers, new accounts, and so on. There is no free meal, and one must be sure that he or she can afford to pay off the debits when required. Mainly because the once popular home equity lines of credit will not be available anymore. So, plan ahead, use your credit card wisely, and do not be afraid of purchasing those holidays gifts you had in your list.