Credit Cards Rates, Fees Keep Going Up
Well, you can’t say they didn’t warn us.
The banks threatened to go on a rate-raising, fee-hiking, rule-writing rampage if Congress approved the Credit Card Accountability and Responsibility Act of 2009.
It did and the result has been an unending stream of letters from my credit cards making good on that threat.
But I still find it ironic that the most recent arrived the day after the first few provisions of the law intended to protect me from the credit card industry’s worst abuses took effect.
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Our Favorite Cards For College Students
If you’re heading back to campus this month, you need a credit card with the lowest possible interest rate and minimal fees.
With lots of expenses and not much income, you want to spend as little as possible to get the credit you need.
In a perfect world you’d pay off your balance every month and the interest rate wouldn’t matter all that much.
But a whopping 82% of college students don’t do that, and by the time they graduate they’re carrying $4,100 in credit card debt.
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