By  on December 15, 2008

Forget Wall Street — consumers have their own credit crunch to worry about with store-branded charge cards and it’s about to get worse, according to a new report from Fitch Ratings.

“Rising delinquencies will pressure card issuers and their retail partners during the coming year as Fitch expects a scenario akin to nearly one in eight cardholders defaulting on their store cards,” said Mike Dean, managing director.

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