Credit Card Market Outlook for 2009

Until recently, many economists predicted that by early next year the economy would turn a corner and start to recover. However, this is no longer the case as some fear that the worst is yet to come. So far, credit card issuers have not experienced a meltdown, but delinquencies have been rising steadily and may reach record highs next year. Some issuers expect record losses in 2009. Thanks to the $700 billion bailout we probably won't see any large credit companies fold. Let's hope for the best.

WSJ