What's in Your Wallet and it Making you Poorer?

raising interest on consumer credit cards. It’s a little confusing, frankly. On the one hand we are being warned that another shoe is about to drop and that a credit card cris is on the horizon as consumers default in droves, and on the other card issuers unilaterally raise interest rates and fees, which often serves only to increase debt of those having trouble paying.
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I’ve said it before and I’ll say it again. Once upon a time we called people who charged you more when you couldn’t pay Loan Sharks. Not we call them Master Card, Visa and American Express. ]]>