- b.c.,
Prior to, and in the wake of recent credit card legislation, credit card companies have been jumping up their charges to customers for using their cards. The legislation itself, while better than nothing, amounts to a wimpy piece of shit in that it places few limits on rate increases (there's a lot of fine print here), and only provides a certain amount of time they have to give ("grace period") their customers. What's more, the bill doesn't become effective until February 2010. (WTF??)
I've checked the rates on my cards as of late and found the worst offender to be Chase, whose APR on one card is 26%, and on another (a Circuit City account) 22.5%. Also way up there is my Zales account at 25%. Best deal so far is American Express who kept the rates (so far) at about 15%.
I'll keep them (AE), but currently looking for ways to pay off these other fuckers and send 'em to hell.
If anyone wants to add their best deals and worst offenders here, please do. Here are two links to follow-up reports:
Outside editorial: The good, the bad and ugly of credit card legislation - Juneau Empire
Credit Card Companies Raise Interest Rates in Reaction to New Legislation | KSPR News | Local News
I've checked the rates on my cards as of late and found the worst offender to be Chase, whose APR on one card is 26%, and on another (a Circuit City account) 22.5%. Also way up there is my Zales account at 25%. Best deal so far is American Express who kept the rates (so far) at about 15%.
I'll keep them (AE), but currently looking for ways to pay off these other fuckers and send 'em to hell.
If anyone wants to add their best deals and worst offenders here, please do. Here are two links to follow-up reports:
Outside editorial: The good, the bad and ugly of credit card legislation - Juneau Empire
Credit Card Companies Raise Interest Rates in Reaction to New Legislation | KSPR News | Local News
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