Are you watching your credit card statements carefully. If so, you may have been shocked to see the APR jump or the credit available to you shrink or disappear. Ed talks about a credit card play called “universal default.” NBC in Chicago covered the issue, too. Watch their report here and listen to Ed cover all the details you need to know, below:

Ed also brings you up to date on the Fed’s mortgage bailout program and why you shouldn’t fall for the scarcity and fear marketing some lenders are practicing today.

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