Reply #9: It's not a trend, it is a strategy [View All]

[Vinnie From Indy]

And, for that matter, a well thought out strategy. many of the large credit card companies are raising their rates ON EVERYONE. Nat City just did that to me. They tried to raise my rate from 13.99% to 18.99% with only a small note on my bill. I called and they backed down and moved my rate back. I still have to pay the 19% for one billing cycle.

These companies are going to go hog wild. They know they have Uncle Sam as their collection agent now. They will give every man woman and child in America a card regardless of risk. These companies are making an effort to be America's NEW SLAVEHOLDERS. They will own anyone that defaults.