Super Fitness Health BlogCredit card banks are deploying the scummiest of tactics
As if problems couldn’t be worse right now for the United States citizens and their finances. The last scam we all need is the credit card companies to continue developing ways in which to punish their consumers and swindal people of their income.
For staters they have the “universal default clause”. This allows the creditors to raise their APR when they see you have negative remarks on your credit history. So realistically a consumer can see their interest rates increased literally overnight and not know why. The worst part about the universal default is that you can have a single creditor that you missed one payment with and then all of your other credit card providers can now increase their APR’s as well. This puts folks into a world of financial hell because now the credit card payments will at at a minimum double and the majority of the payment is going to the interest alone.
The next rabbit in the hat has to do with the universal default. They of recent months have been reducing people’s limits to right above their current balance with not a word to them about this. They do this hoping that the person will go over their limit and thus allow them to make use of the universal default and charge the over the limit fee.
Without having to mention this is unacceptable and really is not aiding to bump our economy back on the right path. For such people who are being preyed upon in this manner there is a plan to get rid of debt. This solution is to enlist into a credit card debt settlement program, with credit card debt settlement people can honestly become free from debt. Now allowing the debtor to save income and become debt free in a couple of years shoving these creditors and their scummy tactics behind them. A debt settlement is something that will be of tremendous benefit.
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