Consumers who buy used clothing or retread tires should be commended for making responsible financial decisions instead of being nailed by higher interest rates. The truth is CC companies want to raise your interest rate no matter how good your credit rating is and will invent and continue inventing novel reasons for doing so. Ever wonder why, when your credit rating falls, they raise your interest rate, and when your credit rating improves, they raise your credit limit instead of lowering your interest rate? Innocent-until-proven-guilty should be the rule. If you've a decent payment record (even with a few missed payments, who hasn't missed a few?), you shoudn't be penalized regardless of what you buy with your CC.
Michael | 07.01.09 - 2:32 pm | #