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Will your credit card be alive at Christmas?

As we approach the festive period, how will your credit card company react to the news of the bailout?

More and more people are praying that their credit cards can see them through the Christmas period as money becomes tighter and tighter. While the early part of 2009 will be difficult for everyone it seems that many just want Christmas out of the way and then think about paying back all of their debts - or at least review their financial health. But will they get the chance? Will the credit card companies pull the rug from underneath them?

This is actually a very difficult call because we should see some confidence return back to the market but then the government is looking to change the current regulatory regime from within the industry. The move to shore up some of the UKs weaker banks came at the expense of change and reckless lending is the one area where these changes will be most visible. But surely they can't spoil Christmas?

Be very wary of spending on your plastic this winter as you may see restrictions and reduced limits come to the fore. The credit card companies are still seeing debts and defaulters on the increase and will not allow more to join the band of bad debts.

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