Only the people who are not involved with credit will not be affected by the credit crisis. The truth is that most of us at least use some form of credit such as the credit card. For credit card consumers who do not carry a balance on the card the effect of the credit crisis will be the least. In order to minimize the disadvantages that you might face owing to the credit card crisis such as increase in the interest rate, increase in a minimum payment etc. you should try and pay off your balance in full at the end of the month.
However, a cut in the credit limit will still hurt you even if you pay your balance in full. A reduction in the credit limit will increase the debt utilization ratio which is bad for the credit rating. A reduction in the credit limit without you being aware of it may cause you to go over the limit in your expenditure which may result in an increase in the interest rate as well as a late payment fee.
The credit crisis has also affected people who are either seeking new lines of credit or applying for credit for the first time. If you are one of those people who are done with applying for mortgage loans, automobile loans and student loans, then you are one of the lucky ones who will not bear the brunt of the credit crisis.