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Article: Consumer Reports Investigation Finds Some Credit Card Issuers Predatory; How to Fight Back; 10 Most Consumer-Friendly Credit Cards.
- Article from:
- AScribe Business & Economics News Service
- Article date:
- October 3, 2005
CopyrightCOPYRIGHT 2005 AScribe. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Consumers Union
YONKERS, N.Y., Oct. 3 (AScribe Newswire) -- Thanks to cozy relationships that have developed over the years among lawmakers, federal regulators, and credit card issuers, getting trapped in the jaws of credit card debt has become alarmingly easy. A Consumer Reports investigation in the November 2005 issue of the magazine (http://www.ConsumerReports.org?source=CR22) finds that credit cards have become much more treacherous for consumers. The investigation reveals that credit card issuers have imposed interest rates in excess of 30 percent on consumers whose only offense might be a late payment to another creditor. The report also exposes ...