A holiday greeting may be on the way from your credit card company, but it may not be one you want.
The Federal Reserve says half of lenders are raising interest rates and reducing credit limits on the most qualified borrowers.
It's a continued effort to make changes before new federal guidelines go into effect in February.
And with the holiday shopping season underway, many people are opting for cash instead of credit, to make those special purchases.
In fact, the National Retail Federation says credit card usage could fall to 10 percent this season.
"Many people are really coming to stores with the amount of money they have in their walllet, sayingt this is all i have to spend. And that's going to effect the impulse buy," says Ellen David of the National Retail Federation.
Experts say those figures could make for a tougher holiday for both borrowers and retailers.
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