A Look At Universal Default
Kathy Kristof writes for the Los Angeles Times about the increasing use of customer credit reports by credit card issuers and how rates can rise based upon what they contain.
Bank card issuers regularly review their cardholders' credit reports to see whether they have become riskier bets. Some issuers are doing this as often as once a month, compared with annually or semi-annually, as they did in years past. And if they find a change in credit history, the consumer's rate could skyrocket — on all credit cards, not just the one that's been paid late, for example, or for which the credit limit has been exceeded.
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