Banks Race to Raise Rates on Credit Cards

The Ninja Consumer was seen: on January 5, 2010     Font Size:

ABC news sent me this scary piece that I just had to share with you guys!

Banks Anticipate Losses of $50 Billion When New Credit Card Rules Take Effect

The law was designed to give consumers expanded protections, fewer fees and more clarity, but in the meantime, consumer advocates say, the bank and credit card companies are aggressively trying to find new ways to raise revenue quickly.

Read the entire article from ABC news: Banks Race to Raise Rates on Credit Cards