Banks and credit card companies are starting to share even more information these days, in a bid to identify prudent borrowers, so they can turn away ‘unprofitable' customers.

The banks are planning to identify those customers who clear their balances every month, or who constantly switch to 0% deals. After all, these people don't make the banks any money, so why would they want them as customers?

This will ultimately mean that more and more people are denied credit, as the banks integrate their records, supposedly to help them better judge risk.

Most credit card providers have already tightened their lending criteria, they have also started to charge ‘inactivity fees' and interest rates are raised at will. Some people have had their credit limits cut without explanation, others have already had their cards cancelled by their credit card company.

The fact that companies supposedly ‘in competition' with each other are collaborating to such a degree is alarming and suggests that a banking cartel is in operation. This becomes even more worrying as 4 out of 5 of us all bank with the ‘Big 5 banks, as I revealed yesterday.

We seem to be held in thrall to these banks and they use our own habits against us, punishing us for not making them enough money.

again, I urge you to take the logical step of opting out of the system, cancel you debt, bank overseas and create your welath with off shore invetsments. Leave nothing for these vultures to pick over. Learn how with us at the Ultimate Entrepreneur, join us now.