Sunday, May 13, 2007

more credit cards - more problems

Have you ever heard or experienced the so-called predatory policy of credit card issuers? If you have at lest once missed or delayed a payment on one of your credit cards, then very probably you have. What happens when you, maybe a good or even excellent credit card holder, forget about the basic rules of credit card management? Well, you most probably, like most Americans, use several credit cards at one time. and now imagine you miss a payment on one of them. the interest rate rises, it's natural. But you'll be shocked to know that the rates on all the other cards fly up, too! It would be very difficult to assume that you can pay them off at the moment and as you can't, you get into debt. Companies get you into debt in a forced manner! In short, they rob you. But, there's good news. As democrats and consumer communities are strongly agaist such an action and judge it as very unfair, all credit companies are reconsidering their policy. Now, however, if you want to apply for credit card and be sure in its stability, it's most likely to be Citibank credit card product as they claim their determination to go back on the predatory actions agaist their customerds.

1 comment:

moneymonk said...

Credit cards companies always win. They get rich off of keeping you in debt