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Loans have undoubtedly a very significant role in everyone's life. When man started getting civilized and social, every now and then he lacked something. This lacking have not been able to be eliminated from a society as well as daily activities. While the lacking still exists people have developed and learned to ease it when it was inevitable. That is why loans have become indispensable factor in the financial scenario in the world right now. Loans are available in a wide category with homeowner loans being the most important one among such types of loans. Apart from homeowner loans, auto loans, mortgages or consolidating debts, people seem to be very much attracted towards credit cards and its services.

With a number of credit card offers there have been many records of defaults in it as well. With this as the main concern many credit card providers have already tightened the criterion for applying such credit cards. Credit cards can also be categorized in a type of loan. Applying for a credit card won't be as easy as it used to be in the past.

According to the latest news entitled "credit card providers tightening criteria", the survey done by moneyfacts.co.uk shows that more than 125 credit card fees and rates were hiked by financial services providers.

This means that the number of such financial services providers would definitely grow.