ECONOMY

Credit card limits cut

Banks are troubling charge card users as they have introduced big cuts to credit card limits, in some cases by 50 percent or even more. Even clients who use their cards frequently and pay their installments without delay have been affected by the change.

Bank officials told Kathimerini that this is due to the close monitoring of banks? loan portfolios by certified accountants as well as the Bank of Greece, which affects the provisions each bank is required to calculate and its potential cash flow.

The crisis has also led to a significant reduction in the use of credit cards and the greater use of debit cards instead, according to local lenders.