The Pros and Cons of Social Lending

Courtesy Digg - Business & Finance  Thu, 01/07/2010 - 07:40

With faith in banks and credit card companies on the decline, more consumers are turning to social lending as an alternative to existing financial institutions for their borrowing needs.

The worst offenders, credit card companies, have been lowering credit limits and increasing penalty fees and interest rates on even their most loyal customers.

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