A reader named Patty pointed me to a Wall Street Journal article reporting that Chase is raising rates and adding fees for some cardholders:
J.P. Morgan Chase & Co.’s Chase unit is raising its rates on credit-card cash advances and overdraft protection, as well as its default rate, which is triggered when cardholders exceed their credit [...]
According to a recent report from prominent banking analyst Meredith Whitney, the U.S. credit card industry is poised to cut $2 trillion worth of credit lines over the next 18 months due to risk aversion and regulatory changes. This represents a 45% decrease in consumer credit lines, which could have a dramatic impact on consumer [...]
According to a comment from a reader named ‘Karmazoic‘, the Citi credit card rate change only affects new purchases, and not your current balance. As such, it sounds like promo rates on existing balances should be safe. If you have any questions, be sure to call them and get an answer straight from the horse’s [...]
A reader named Brad recently wrote in to share his experiences with card issuers closing dormant accounts. Here’s what he had to say:
My wife and I have transferred balances from one 0% offer to another for years. We have 13 bank credit cards open and over $200,000 in open credit lines. We have been successful [...]
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