Credit Cards Start Offering Lower Limits Amid U.S. Outbreak

Major U.S. credit-card issuers are starting to lower customer spending limits as the coronavirus pandemic leaves millions of Americans jobless and struggling to keep up on loans. Discover Financial Services just became the largest lender yet to acknowledge it’s begun reining in lines of credit for new customers. In a regulatory filing late Wednesday, the firm said it’s also easing off efforts to sign up consumers and that it expects to take a hit from programs letting existing borrowers skip payments or delay the accrual of interest.-- More...