Business Owner: Jack Gordon

Return to the main story: Card Usage Rises as Credit Crunch Continues

Despite a brutal economic downturn, Jack Gordon religiously pays more than the minimum on his four credit cards as he tries to keep Salvatore’s Italian Restaurant in Cape Coral afloat.

Still, the amount he can borrow on the cards has slowly been cut back in recent months.

“They have all sent me notices that the amount of money I can withdraw has been capped and my interest rates have all gone up,” Gordon said.

Borrowing is a matter of economic survival. “I use the cards because I own a business that’s trying to survive this economic crunch,” said Salvatore’s Gordon. “Six years ago I was flying high. I made good money, not lots of money.”

Now, he said, “I’m in the same boat as I would say the majority of the people who’ve lived not an extravagant life, but just to meet the bare necessities of life.”

Return to the main story: Card Usage Rises as Credit Crunch Continues