http://www.asapcreditcard.com/blog/credit-news/chase-ending-universal-default-penalty Credit Card Industry News, Information, Tips & Advice Sun, 07 Sep 2008 14:31:47 +0000 http://wordpress.org/?v=2.1.2 http://www.asapcreditcard.com/blog/credit-news/chase-ending-universal-default-penalty#comment-253 Unexpected Bank of America Rate Hikes - ASAP Credit Card Tue, 12 Feb 2008 18:44:39 +0000 http://www.asapcreditcard.com/blog/credit-news/chase-ending-universal-default-penalty#comment-253 [...] The move is especially surprising since recent congressional hearings slammed credit card companies for raising rates on customers who pay on time. By law, credit card issuers can change terms any time they choose - as long as they give borrowers prior notice. Even so, JPMorgan Chase (JPM) and Citigroup (C) recently announced they would stop the practice of raising card rates based solely on FICO scores. [...] […] The move is especially surprising since recent congressional hearings slammed credit card companies for raising rates on customers who pay on time. By law, credit card issuers can change terms any time they choose - as long as they give borrowers prior notice. Even so, JPMorgan Chase (JPM) and Citigroup (C) recently announced they would stop the practice of raising card rates based solely on FICO scores. […]

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