Banks will be reviewing…

Banks will be reviewing the profile of customers with credit cards at the end of the year, or at the start or 2011, in a move that is likely to result in a drop in the number of cards issued by 10 to 15 percent. The review will be carried out with tougher criteria than in the past, given the deepening recession. The assessment may result in a cut of some 500,000 credit cards, bringing the total number issued by banks to 5 million. Bank of Greece data show that Greeks owed 9.5 billion euros on plastic at the end of 2009.

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