Screw credit cards and the banks!
Lenders are making the moves in advance of tougher federal regulations for credit cards scheduled to take effect on Feb. 22. The new rules will limit how companies can modify credit card agreements, specifically prohibiting them from retroactively raising interest rates and fees on existing balances.
via Credit Card Firms Hurry to Raise Rates | CommonDreams.org.
So they are jacking the rates up now.
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