Credit card companies have pretty much always felt free to adjust the interest rate on their fixed rate credit cards. That is, until last year when Citibank decided that the fixed interest rate on its credit cards would no longer be increased at any time for any reason. Citigroup has since rethought that [...]
Credit card companies may have been printing money for the past few years, but their access to the profit train may be limited in the near future. Despite Discover’s second quarter profit announcement, CNN Money has an indepth article on the increasing loan loss provisions, charge off rates, and potential deterioration of profits in [...]
Discover Financial spent $160,000 in the first quarter lobbying against credit card reform proposals, reported Forbes.
