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If you think the “credit crunch” is a mostly downscale phenomenon, think again. A USA Today/Gallup poll indicates it has made its deepest inroads among middle-income households, while also impinging on plenty of upper-income consumers. When asked whether anyone close to them has been turned down for credit in the past three months, 28 percent of respondents in the $30,000-74,999 income bracket answered affirmatively, as did 19 percent of those in the $75,000-plus cohort. Twenty-five percent of people in the under-$30,000 bracket said the same.
In another sign of the crunch’s dimensions, a report by Synovate’s Mail Monitor service found a 14 percent decline in direct-mail offers of credit cards in the fourth quarter of 2007 vs.
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