Just read this article about the new credit card crisis by the new york times, it pretty much confirms what everyone has been discussing on here as of late

"Big lenders -- like American Express, Bank of America, Citigroup and even the retailer Target -- have begun tightening standards for applicants and are culling their portfolios of the riskiest customers. Capital One, another big issuer, for example, has aggressively shut down inactive accounts and reduced customer credit lines by 4.5 percent in the second quarter from the previous period, according to regulatory filings"

full article is here:

http://finance.yahoo.com/loans/article/106044/Consumers-Feel-the-Next-Crisis:-It's-Credit-Cards