Opening Statement of Senator Carl Levin, U.S. Senate Permanent Subcommittee on Investigations Hearing: Credit Card Practices: Unfair Interest Rate Increases
http://levin.senate.gov/newsroom/release.cfm?id=288160
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Ms. Rushing, by the way, like Ms. Hard and Mr. Glasshof, doesn’t know why her FICO score dropped. She speculates that it may have been because, in January and March 2007, she opened Macy’s and J.Jill credit cards to obtain discounts on purchases -- 15% off some cosmetics and 20% off some clothes. She didn’t realize then that simply opening those accounts and receiving those cards could negatively impact her FICO score and hike her interest rate.
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