 |
Choosing a credit card made simple. See our wide array of credit card offers. Use our Credit Card Resources to compare and find the best credit card for you. Apply online.
|
|
||||||||
 |  |  |  |  |  |  |  |
 We get letters in each day asking us what is the best thing to do credit wise in a recession. Well, that is a trick question. Politics, weather, energy prices, everything effects the credit market. Although we at Find A Credit Solution do not support officially either candidate for the United States presidency, we can offer advice as to what will happen to interest rates in the event either is elected. If Barack Obama wins the election, expect rates to rise as investors on Wall Street get nervous about Barack increasing corporate taxes. As rates rise, it is best to stick to fixed rate cards for today. If John McCain gets elected, then Wall Street will probably be calm, knowing huge tax hikes are unlikely. So the best bet today is 0% intro rate credit cards or terms on loans, since rates will not likely spike. This makes today’s decision difficult because we don’t know what will happen in November. As for other factors in this current recession, our best advice is to save money for hard times. Nobody knows if this recession has got near the bottom yet; we may be falling for longer than previously expected. Published: Monday 25th of August 2008 05:48:35 PM For more information on credit cards and related topics, please see our library of articles. 
 No comments have been provided.
|
|||||||||||||||||||||
Print 
Email