We notice you are visiting from a U.S. Internet provider. 
17/08/2009 -
Four of the largest credit card lending banks in the U.S. reported this week that their default rates fell in July, according to Bloomberg. JP Morgan Chase, the largest U.S. credit card lender, reported that its default rate fell from 8.04 percent in June to 7.92 percent in July - the second consecutive month of declining rates. Citigroup, American Express and Discover had similar declines, the news agency reported.
This data suggests that a rebound may be in the works for the U.S. recession as well as in the global economy, which is strongly linked to U.S. economic performance.
As default rates continue to fall, the credit crunch will start to lift as banks across the world will be more likely to lend to consumers and businesses.
This facilitated access to credit will also increase the number of people and businesses who rely on credit cards to make purchases - making it crucial for merchants to accept credit cards.
Businesses that do not accept credit cards or that are unsure about which payment cards their equipment accepts, are encouraged to research merchant account providers or to talk to their payment card processing service.
