Bank trying to close unsecured lines of credit
This is interesting… got a letter from my bank that they will be charging a $35 fee for my unused unsecured line of credit because I haven’t been using it. I either start using it, or pay the fee, or close the account. My guess is that the banks are trying to reduce the number of unsecured lines of credit on their books so that they run less risk of having unemployed people drawing on lines of credit for survival.