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sales were awesome a while back when credit was flowing... now that the crunch is on i can definitely feel it
a couple of my theories
extra credit cards have been closed on people resulting in them having to consolidate their credit / max out their existing cards... i'm sure it was a lot easier for people to justify splurging when they had a variety of cards to choose from... but when you have 1 or 2 cards that are almost maxed out i can't imagine someone would just as easily reach for it
people are more hesitant to spend because of this AND / OR people can't spend because 'high-risk' transactions aren't being allowed at some higher level
anyone here know if online transactions considered "high-risk" are considered similar to the high risk loans, etc that got the market into this mess in the first place? would scrubbing be harder on those with less than great credit due to this?
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