The AntiCramer

Late Payments on Credit Cards Reach Record Levels

Credit card companies are increasing rates on good customers as a response to recent legislation that prevents them from raising rates on outstanding balances of customers likely to default. If they can't raise rates on their customers most likely to default they have no choice but to charge everyone more.

Yet another instance of politicians not thinking critically about the unintended consequences of their actions. Washington has found yet another way to force the responsible to pay for the mistakes of the irresponsible.


On Feb 06 09:39 PM PastTense wrote:

> Well the way credit card companies have jacked up rates recently
> for their good customers means they should have the funds to absorb
> these losses.