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Article: Consumer Reports Investigation Finds Some Credit Card Issuers Predatory; How to Fight Back; the 10 Most Consumer-Friendly Credit Cards
- Article from:
- U.S. Newswire
- Article date:
- October 3, 2005
CopyrightCopyright 2005 U.S. Newswire. Provided by ProQuest LLC. (Hide copyright information)
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YONKERS, N.Y., Oct. 3 /U.S. 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(equal)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 other