Credit Card Companies Still Raising Rates
The credit card companies simply have no shame. Regardless of the political pressure and public backlash they’re likely to experience from raising interest rates before the new law takes effect, they’re raising them anyway.
What can you do? Call and complain. Threaten to take your business elsewhere. Get a card through a credit union. According to a news report on Channel 10 in central Ohio…
“Consumer Reports says you can often find better credit cards from professional organizations, such as teachers’ associations, from credit unions, and from community and regional banks.
“There are now often one-time fees on balance transfers, so before you switch to a new card make sure you check that,” Kleman said.
Also check if the new card carries an annual fee. The kind of charge is making an unwelcome comeback. Credit unions can be a good place to get a credit card. These days it’s easier to join a credit union than it used to be.”
Read about the entire report here.
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