Credit card companies are sticking it to consumers left and right. They raise interest rates to as much as 36% and double minimum monthly payments on customers who are already struggling and low on cash.
In an effort to put them in their place, President Obama signed into law a credit card reform act in May that's rolling out over 12 months. But Credit Card companies are hard at work on new ways to stick it to you. Hit the link to check out five ways in which the Credit Card companies are still evil.
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1 Comment so far
Credit card companies are not evil. They wouldn't be raising the interest rates if Obama wasn't screwing them. Credit card companies set your interest rate based on the amount of risk you present to them. There have been times in my life where the rate was 25%, and 9%, depending on my credit worthiness. If your credit sucks, don't blame the card companies, blame yourself. If you want a lower rate, either fix your credit or get a different card. For a while, capitalism is still alive and well and you are always welcome to shop around if you don't like the deals.