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Cardholder Backlash is Bigger Than Expected

A new survey shows 21% of consumers said they were treated unfairly by
card companies and 32% have paid off and closed a card since January
2008. The research also found that half of those that canceled did so in
direct response to the actions of credit-card issuers, such as cutting
limits, hiking rates, or imposing fees. Consumer Reports says its poll
reveals only 41% said they were highly satisfied with their card issuer,
making credit cards one of the lowest-rated services the firm covers.
The survey also found that 45% of respondents say they are charging
less, 43% say they are spending about the same, and 11% are charging
more than they did a year ago. The surveys found that one-third of
Americans say they don’t own a credit card. Of those Americans who use
them: 54% pay their balances in full each month; 13% carry balances over
$10,000 (Median $17,366); and 33% carry balances up to $10,000 (Median
$2,554).