From cbc.ca:

Credit card companies are in a precarious position in 2009 as some consumers start to batten down the hatches and reduce their spending, while other face potential bankruptcy.

That could mean some noticeable changes with Visa, MasterCard and American Express, from higher interest rates to a more aggressive chase against unpaid debts.

"There’s definitely going to be more tightening," said Michael Kon, an analyst at Morningstar in Chicago who has been watching the industry respond to a widening set of troubles south of the border.

He said mounting job losses and an increasingly dismal U.S. economy have left U.S. banks wary about handing out credit readily to consumers.

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