Credit Card Weasels

Published: December 4, 2007, 11:57 pm

Tags: bad debt, credit cards, credit fees, credit limits, credit score

Today Congress had the top credit card executive weasels sweating out another day of having to explain some of the sneaky, underhanded things they do to some of us creditors. Some of those things include raising our interest rates, even if we never miss payments, because they say our overall credit scores have fallen; double cycle billing if we opt into plans where we can pay based on an annual percentage rate instead of having to pay full balances at the end of each month; changing interest rates with little to no notice; closing accounts where people who haven't missed a payment or haven't reached their top balances because of worry based on recent credit scores.

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