{Consumers are]...carrying less debt. The New York Federal Reserve reported this week that consumer debt had dropped by $60 billion in the most recent quarter as households "deleverage" to cope with tough times.

So how are some banks responding? They're making it easier for people to run up balances on their credit cards.

In other words, they're trying to get people to once again bury themselves in debt.

Case in point: Chase Freedom MasterCard holders are receiving notices that in addition to new benefits, their cards are being automatically switched from having credit limits to credit access lines — unless customers opt out of the change.

Ugh--read it all.

Filed under: * Economics, Politics • Economy • Consumer/consumer spending • Personal Finance • The Banking System/Sector • The Credit Freeze Crisis of Fall 2008/The Recession of 2007--

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