Sweet. Need more profit? Jack up credit card rates. It's legal.
Bank of America blindsiding cardholders? - MSN Money
Bank of America blindsiding cardholders? - MSN Money
I know reading is hard, but surely someone out there has read the fine print in CC agreements. The language is written all in the card issuer's favor, and gives them broad lattitude to reduce availability, jack rates, raise fess, etc. Read the fine print on any HELOC: not so easy for the lender to raise rates or fees, but tehy can certainly cut you off or reduce the size of the line if they wish.
I know reading is hard, but surely someone out there has read the fine print in CC agreements. The language is written all in the card issuer's favor, and gives them broad lattitude to reduce availability, jack rates, raise fess, etc. Read the fine print on any HELOC: not so easy for the lender to raise rates or fees, but tehy can certainly cut you off or reduce the size of the line if they wish.