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What Congress giveth, credit card companies are poised to take away.
In six weeks, the final major provisions of the Credit Card Accountability, Responsibility and Disclosure (CARD) Act will take effect. The law prohibits many egregious tactics used by card issuers, such as retroactively raising interest rates on consumers' balances. But issuers have reacted to the sweeping new consumer protection law by quickly inventing new egregious tactics, including raising rates
Six new credit card booby traps on the way For those of you who do use credit cards, bank cards, or debit cards, you will know that it can cost you, at times dearly to do so.
Its a good idea to spend money instead of using credit, but you don't really think its the average joe taxpayer credit ho that spent the country into this mess do you??
Originally posted by HimWhoHathAnEar
They've got loan loss rates that are ramping up, so what do they do? Squeeze the rest till they default as well.