The Impacts of Credit Card Rate Increases on Revolvers
In an article titled "Changing credit card terms squeeze consumers", Kathy Chu writes for USA Today about the obvious impacts that credit card rate increases by card issuers have on the financial life of those who have revolving balances on their credit cards. Chu writes that "credit cards, by encouraging a society of spenders rather than savers, have played a significant role in loading up consumers with unaffordable debt whose rates and terms can change at any time."
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