Bank of America is the latest bank to announce that it plans to raise interest rates on some credit card accounts. B of A says the move will affect 4 million cardholders -- less than 10 percent of its card customers. Basically, people who carry a balance and currently enjoy a rate of less than 10 percent will see their rate rise.
Citigroup, JP Morgan Chase and American Express had already announced similar moves. You may recall that the Federal Reserve created new rules that will protect...Full Story