Secured credit cards, the basics
For its customers who carry large outstanding balances, Chase raised the required minimum payment from 2 to 5 percent. The maximum allowed limit for many customers of Citigroup have been lowered, simply because of the shaky economic times. Many cardholders have found that their credit scores have taken a hit, as their debt to credit ratio has increased due to those lower credit limits. Others are simply struggling to make payments or defaulting on them, as they prioritize which bills get paid in the current economic pinch. As a result, there are more people who are now looking for credit cards for bad credit to help them through these times.