Is the Era of Democratic Credit Really Over Now?

When the Wall Street Journal printed an article a couple weeks back (subscriber only, sorry, no link) about the end of the democratization of credit, my first thought was “old news.” Credit has gotten tighter in all its forms. Credit card balances are being slashed for no reason or for red flags that were ignored before the recession , HELOCs are being closed , mortgage refinance attempts are being denied, and people aren’t getting granted as much credit in the first place. Despite all thi