Banks Race to Raise Rates on Credit Cards

Consumer advocates say the race is on, as banks and credit card companies look for ways to make up the estimated $50 billion they're about to lose when new credit card rules take effect. But now, in many cases, those advocates say, the banks are targeting consumers' credit cards to make up their losses. "The wholesale raising of interest rates, I've seen 12, 15 percent," said Adam Levin of the credit education site Credit.com. "There's no questions they were front-running the laws." Along...Full Story
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