Well you guys know what I think? I think they are going to be digging deep into the debt-to-income-to-credit availability on consumers (or applicants). I know banks are out to make money, but they focus very hard on risk factors also. I think the "Looks like we can give him/her a chance" is over with. History and income is going to be the number one priority. My reason, in the near future, they are going to look back at our current economic crisis, and focus on those who maintained their credit and assets through it all.

Banks took a loss through its customers as well as they did through their rip-off top officials, and bad decisions. These rip off creditors with the 90% up front fees are going to be banned, and the tier banks are going to invest a new bank (in some weird name) with a ton of insurance for those with the fair credit. Wait and see!

Thanks! I did not know there was a CU network before!

Neither did I until ColoNative brought it up.

Thanks! I did not know there was a CU network before!

http://www.cuservicecenter.com/

Credit unions - what is a "CU Service Center System"? I was a member of a great CU until I left their geographic service area (December 31, 2009). No one ever told me about the CU Service Center System.

It's official! Joeyman is our new CU cheerleader. Great to have you here!

Probably not. The banks just have to add a few more hurdles to please the Feds but it likely will not be as bad as it sounds. Similar to how they made it "harder" to file bankruptcy after October 2005.

Credit Unions rock, especially since most are part of the CU Service Center system. So if you have Nasa FCU out in MD you can go to a credit union in FL and be serviced. More people need to consider CU's for sure.

Go credit unions! :DDDDDDDDDDD

I do not think it will be as bad as people think because making a profit is the bottom line for banks. i also think that things aren't as great it seems but not as bad also(remember the y2k situation) and if things do change dramatically for consumers dealing with banks,I can see more people joining Credit Unions as time goes on.

Probably not. The banks just have to add a few more hurdles to please the Feds but it likely will not be as bad as it sounds. Similar to how they made it "harder" to file bankruptcy after October 2005.

Credit Unions rock, especially since most are part of the CU Service Center system. So if you have Nasa FCU out in MD you can go to a credit union in FL and be serviced. More people need to consider CU's for sure.

Very true. Consumers will start moving their money from banks to credit unions since the big banks want to nickel and dime us. Big banks are starting to charge fees for "free" checking accounts if you don't meet the NEW requirements.

exactly and it is more important now than ever to get your credit in the best possible shape because the power to chose who you want to do business with is a great asset to have in your corner.

I do not think it will be as bad as people think because making a profit is the bottom line for banks. i also think that things aren't as great it seems but not as bad also(remember the y2k situation) and if things do change dramatically for consumers dealing with banks,I can see more people joining Credit Unions as time goes on.

Very true. Consumers will start moving their money from banks to credit unions since the big banks want to nickel and dime us. Big banks are starting to charge fees for "free" checking accounts if you don't meet the NEW requirements.

I do not think it will be as bad as people think because making a profit is the bottom line for banks. i also think that things aren't as great it seems but not as bad also(remember the y2k situation) and if things do change dramatically for consumers dealing with banks,I can see more people joining Credit Unions as time goes on.

That's what I'm worried about. I have a feeling that we will not see the CLI's we're used to seeing.

Yeah. All the banks are going to start using a calculator to determine if a cardholder will qualify for a CLI. I don't know how many of the big banks are actually going to require actual proof-but best not to lie just in case.

Hopefully that won't cause many trouble for rebuilder cards, those limits and CLI's are low to begin with.

Your right Young Man, the days of a person with an annual salary of $20K carrying $75K of available credit will be conversation you will be telling your Grandchildren about ! Can we say " Limited Exposure ? "

Excellent! I wonder what will happen starting after 2/22? Income questions I suppose. Congrats.

That's what I'm worried about. I have a feeling that we will not see the CLI's we're used to seeing.

When I opened my Citi Platinum Select card back in march 09, I received my first cli after my 5th statement and then 3months after which was Nov.Well the luv button appeared today and I pushed it and was approved, with no report pull, for a cli of 3k increasing my cl to 13k.I use this card a lot along with my discover more(excellent customer service and web site design) for the rewards.

Excellent! I wonder what will happen starting after 2/22? Income questions I suppose. Congrats.