Credit Card Rates Hustle Higher

[Da Vinci Code]

http://www.usatoday.com/money/perfi/credit...card-fees_N.htm

"This month, Washington Mutual (WM) told some credit card customers that it was raising their rates by as much as 100%. Discover (DFS) is lifting its penalty rate to 31%, effective May 1, and may apply that maximum to consumers who exceed their credit limit twice in a rolling 12 months."

Edited April 28, 2008 by Da Vinci Code

[The Ginger Winger]

http://www.usatoday.com/money/perfi/credit...card-fees_N.htm

"This month, Washington Mutual (WM) told some credit card customers that it was raising their rates by as much as 100%. Discover (DFS) is lifting its penalty rate to 31%, effective May 1, and may apply that maximum to consumers who exceed their credit limit twice in a rolling 12 months."

At least Dick Turpin had the decency to wear a mask...I am sure we will see the same here

[Kurt Barlow]

http://www.usatoday.com/money/perfi/credit...card-fees_N.htm

"This month, Washington Mutual (WM) told some credit card customers that it was raising their rates by as much as 100%. Discover (DFS) is lifting its penalty rate to 31%, effective May 1, and may apply that maximum to consumers who exceed their credit limit twice in a rolling 12 months."

I have about £10K on a virgin CC at 0%. I have the money in an instant access ISA so no worries about paying it off. Curiously Virgin reduced my minimum monthly repayment from 3% of the balance to £25 a month. In sept I will be curious to see how easy it is to balance transfer this sum.

If the 0% for 12 months (2.5% transfer fee) party has come to an end so be it. However I expect there are many out there who have become reliant on this method of financing.