Credit Policy for businesses and how to extend credit and manage credit risk

If you extend credit, you are a lender.  Have you raised your standards for customers that want to be credit approved?  You should.

The slowdown in borrowing and spending is not a surprise, we all saw this coming.  As the credit crisis has gotten worse, companies have tightened their lending standards and have been much more cautious.    Many companies, such as Citigroup Inc.  are requiring higher credit scores for people wanting credit.  Many credit card companies are raising late fees and other charges. 

What have you done to raise your standards for your customers who want you to extend them credit? 

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