Credit Cards

[Justine Cooper]

I just read that credit card companies, notorious for finding ways to take as much from the consumer as possible, are now able to raise the interest rate to 30% even if you have paid them on time!

They can check to see if you bounced a check or if you have "too much debt" or any reason they find fit and raise you to 30%!

In a time when foreclosures are about to increase due to lender's money problems and the housing market is about to get worse because it will be harder to get a loan, who is allowing credit card companies to make the ecnomoy worse?

If there is an expert in this field, please write an article for the Lakewood Observer to enlighten Lakewoodites to the new credit card vulture procedures! Imagine people who bought a home they can't really afford because the lender told them they could, and now their credit cards have an interest rate higher than organized crime! I outcome is not good for any city.