Tag Archive | “unfair credit card practices”

Credit Card Rates Rise In 1st Half of ’09

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According to a consumer advocacy group, the credit card rates have been raised by nation’s banks and they have increased their profit from lending to consumers in the first half of 2009.


On Monday, The Pew Safe Credit Cards Project have said that the median lowest advertised credit card rate have risen to 11.99% in July from 9.99% in December. At the same time, it has been said by the group that there has been a 46% rise in profit made by the  banks on credit card debt.

It has been said by the group on its Web site that they are looking to protect customers from unfair credit card practices and moreover they have said that its figures are based on a survey of nearly 400 credit card issuers. The full results of the survey are scheduled to be published in the coming month.

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