Why are banks raising credit card fees to exorbitant levels when they are getting billions from Washington?
banks and credit card companies are raising rates higher than what the mob’s loan sharks charge – all the while getting billions from Washington in the “bail out” schemes. What’ s the deal here? What can be done about this? Criminals!
I also saw the show Dixie is talking about and she’s right, but I must disagree with it being across the board because it simply is not.
I have 3 credit cards that I use for just about everything I buy every month and pay them off in full before the due dates, I have done this for the last 2 years never paid a cent in interest or fees and actually made several hundred dollars in cash back rewards.
Within the last 3-months every one of them has raised my credit limits and not one has raised my interest rates.
I have a good friend that works for Chase and he told me the other day that they are targeting the accounts that carry heavy balances and credit reports that show late payments to others.
Not a problem Dixie, I never thought it was you. If thumbs down bothered me, I would have quit this site a long time ago.