10-02-2009 12:05 PM
10-02-2009 12:10 PM
But, since they can no longer raise your rate for longer than 6 months no matter what, everyone is going to pay and have sky high interest rates. That way, the CC companies are covered against people who miss payments, go over the limit, default on their cards (all things that would normally have preciptated a permanent interest rate hike if not outright card closure). Those of us who don't do those things get to pay too. AIn't credit card reform wonderful
10-02-2009 12:20 PM
You're probably right. However, I'm noticing recent rate increases by certain lenders, especially among HSBC cards.
The best thing for us to do is PIF before the statement hits. That's my plan of action from now on.
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO