Looks like banks are trying to triple dip. Feds are artificially keeping rates low with the flooding of our currency in the world market (which is why gold silver etc. are raising in value). While rates are low, banks are making a killing on margins, bail out money and now with excessive credit card rates. With the new extension(until February) banks have been granted to keep credit card rates under control, banks have JACKED rates as high as 30% for those that have NEVER been late on a single bill...... and just in time for Christmas. A couple things you can do. When you receive the rate trigger letter in the mail:
1. Stop using the card.
2. Contact the bank and opt out.
This will freeze your current rate on the card.
Good Luck!
About Me
- Stuart Brower
- Logan, Utah
- I am a mortgage broker in Cache Valley, Utah. I've helped many people purchase new homes and refinance. I offer many different programs, as well as excellent service. I have helped my clients save money with my low rates and discounted fees. I look forward to helping you.
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