Credit card issuers required to 'cure' penalty rates
Oct 8, 2010 . Missed a couple of credit card bills and get socked with a penalty APR? . In order to get back to the interest rate in place before the rate hike, .
http://www.creditcards.com/credit-card-news/credit-card-rules-penalty-rate-cure-1282.php

Every day, we search the web to find the

Credit card statistics, industry facts, debt statistics
In 2010, 91 percent of cards charged a penalty rate. . they carried over a balance and was charged interest on a credit card.
http://www.creditcards.com/credit-card-news/credit-card-industry-facts-personal-debt-statistics-1276.php


Credit card penalty rates can top 30 percent; how to avoid them
Jan 27, 2010 . Default interest rates -- the penalty rates charged when borrowers violate the terms of their card agreements -- can be two to three times higher .
http://www.creditcards.com/credit-card-news/default-penalty-rates-what-they-are-how-to-avoid-1276.php

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Bank of America's New Credit Card Penalty Interest Rate Is Nearly ...
Apr 27, 2011 . Bank of America credit card holders, beware. If you're late on a monthly payment, that little "oops" might become a big "ouch": Your future .
http://www.dailyfinance.com/2011/04/27/bank-of-americas-new-credit-card-penalty-interest-rate-is-nearl/

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Credit CARD Act Tackles Penalty Interest Rates - CardRatings Blog
Aug 16, 2010 . Missing a monthly credit card payment used to mean saying farewell to low interest rates and special promotions. However, under new Credit .
http://www.cardratings.com/creditcardblog/2010/08/credit-card-act-penalty-interest-rates.html

Credit card fees and penalties FAQs
Bankrate expert, Dr. Don, answers our readers concerns over how credit card companies assess interest, finance charges and penalties.
http://www.bankrate.com/finance/credit-cards/credit-card-fees-and-penalties-faqs-1.aspx

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Record High Credit Card Rates - ABC News
Jan 5, 2012 . Credit card rates have risen to a four-year high—this, at a time when the . a lender lowers or dispenses with its penalty interest rate, however, .
http://abcnews.go.com/Business/record-high-credit-card-rates/story?id=15291365

CORRECTED - BofA to introduce credit card penalty rates in June ...
Apr 27, 2011 . N), one of the largest U.S. credit card issuers, plans to start charging penalty interest rates for credit card customers who miss payments.
http://www.reuters.com/article/2011/04/27/bankofamerica-penalties-idUSN2629671920110427

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Credit card rate hikes reviewed, penalty fees crimped - Jun. 15, 2010
Jun 15, 2010 . Fed releases final rules limiting credit card penalty fees. . The Fed also ordered a review of all credit card interest rate hikes imposed since .
http://money.cnn.com/2010/06/15/news/economy/credit_card_rates/index.htm

FRB: Credit Card Interest Rates
Jun 15, 2010 . For credit cards, the interest rates are stated as a yearly rate, called the annual . Your APR may increase if you trigger one of the penalty terms, .
http://www.federalreserve.gov/creditcard/rates.html

New credit card rules can help, but don't get complacent ...
Aug 23, 2010 . Median penalty interest rates for credit card accounts: Dec. 2008. July 2009. July 2010. Banks. 27.99%. 28.99%. 29.99%. Credit union. NA* .
http://www.usatoday.com/money/perfi/columnist/block/2010-08-24-yourmoney24_ST_N.htm

BofA adds penalty rate to its credit cards | Interest.com
May 5, 2011 . Credit card customers who pay late could get socked with a penalty APR of nearly 30%. Compare credit card offers at Interest.com!
http://www.interest.com/credit-cards/advice/bofa-adds-penalty-rate-to-its-credit-cards/

Credit Card Interest Rates Stabilizing Thanks to New Federal Rules
May 18, 2011 . Despite warnings that credit card rates would balloon after recent federal credit card legislation, a new study has found that interest rates on .
http://www.money-rates.com/advancedstrategies/creditcards/credit-card-interest-rates-leveling-off-and-penalties-decline-under-new-law.htm

Find 0% APR and Low Interest Credit Cards - Compare 1651 Card ...
NerdWallet ranks 1651 of the top low interest rate and 0% apr credit cards for you . them, switched to the Simplicity card, and haven't paid any penalties since.
http://www.nerdwallet.com/low-apr-credit-cards

Penalty / Default APR - Card Hub
The Penalty (or Default) APR is the interest rate applied to a portion or your entire balance once your credit card is in default. The rules for when the Penalty APR .
http://www.cardhub.com/edu/default-interest-rate/

CreditCards.com survey: Penalty rates creep higher, but become rarer
Jan 3, 2012 . For a second year, CreditCards.com surveyed the penalty rates of . "Penalty interest rates have always been objectionably high, and they .
http://www.creditcards.com/credit-card-news/credit-card-penalty_rates-higher-rarer-1276.php

Are there any drawbacks to a low interest credit card?

Credit-card countdown: Higher rates abound - MarketWatch
Nov 10, 2009 . 6 corrects the amount of outstanding consumer revolving credit in October. . Credit-card issuers are hiking interest rates, penalties and fees in .
http://articles.marketwatch.com/2009-11-10/finance/30704831_1_nick-bourke-credit-card-issuers-penalty-rate

What is a credit card penalty rate?
A credit card penalty rate is an increased interest rate that can drastically affect your credit card payments.
http://www.creditcardchaser.com/what-is-a-credit-card-penalty-rate/

Does Law Cap Credit Card Interest Rates? | Fox Business
Aug 10, 2011 . The law didn't set a cap on penalty interest rates. In fact, the median penalty rate charged on credit cards issued by banks is 29.99%, up 1 .
http://www.foxbusiness.com/personal-finance/2011/04/13/does-law-cap-credit-card-rates/

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  • Two Years after Credit Card Act, Pew Finds Interest Rates and Other ...
    May 10, 2011 . Credit card holders are seeing stabilized interest rates, the elimination of overlimit penalty charges, a reduction in late fees charged by banks .
    http://www.pewtrusts.org/news_room_detail.aspx?id=85899359571

  • What is a Credit Card Default Rate
    Definition: The credit card default rate is the highest interest rate charged by a creditor or lender, usually as a penalty for missing a payment, exceeding the credit .
    http://credit.about.com/od/df/g/defaultrate.htm

  • New Credit Card Rules Limit Penalties, Rate Increases - BBB News ...
    Aug 19, 2010 . New rules on credit card interest rate increases and penalty fees are mostly good news for consumers, according to the Better Business Bureau .
    http://evansville.bbb.org/article/new-credit-card-rules-limit-penalties-rate-increases-21721

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  • Massachusetts Law About Interest Rates
    Nov 10, 2011 . For example, Massachusetts law generally limits credit card annual interest rates to 18% and late charge penalties to $10 per payment.
    http://www.lawlib.state.ma.us/subject/about/interestrates.html

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  • Understanding APR Will Help You Understand The Cost of Credit
    The cost of credit is not as easy as simply knowing the interest rate. . Comparing the APR of loans or credit cards is a quick way to determine which . Lenders frequently try to balance the low interest rates with high annual fees and penalties.
    http://www.careonecredit.com/knowledge/cost-of-credit.aspx

  • Chase Prevails on Credit Card Penalty Interest Rate Case
    Sep 1, 2011 . Whether or not credit card interest rates can go up as a result of the Credit CARD Act of 2009 has been the source of much confusion. A new .
    http://www.cardratings.com/chase-prevails-court-says-penalty-interest-rates-ok.html

  • Credit Card Penalties May Jump to 30 Percent ... - Go Banking Rates
    Apr 27, 2011 . Home > Credit Card Rates > Credit Card Penalties May Jump to 30 . the major card issuer plans to hike penalty interest rates to as much as 30 .
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  • Bank of America to hike interest rates for late payments - Apr. 28, 2011
    Apr 28, 2011 . Beginning June 25, the nation's largest credit card issuer will introduce a penalty interest rate of up to 29.99% on future balances for credit card .
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  • CU: Fed should roll back credit card rate hikes
    Apr 14, 2010 . Recent Unfair Credit Card Interest Rate Hikes . interest rate hikes and to put stronger limits on the size of penalty fees and interest charges.
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    Apr 14, 2010 . Recent Unfair Credit Card Interest Rate Hikes . interest rate hikes and to put stronger limits on the size of penalty fees and interest charges.
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  • Nordstrom Card Disclosure Summary
    Interest Rates and Interest Charges. Annual Perctange Rate (APR) for Nordstrom Purchases . If your APRs are increased for this reason, the Penalty APR will apply until you make six . For Credit Card Tips from the Federal Reserve Board .
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  • The Following Contains Detailed Information About The
    4) Penalty APR and when it applies. Your credit card company may increase your interest rate for several reasons. For example, if you: a. pay your bill late, .
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    May 12, 2010 . That low interest rate credit card may seem like a great deal, but when . You won't see your interest rate spike to the penalty rate unless it's .
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  • CARD Act conference: Key findings > Consumer Financial ...
    When a consumer opens a new credit card account, the consumer is told what . In large part that was due to “penalty” interest rates that, prior to the CARD Act, .
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  • Interest Rates 101 [Fool.com: Credit Center]
    A penalty rate, as the name implies, is the price you pay for irking your lender. Here are things that can trigger a higher interest rate on your credit card: .
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  • Credit Card Interest Rates, and How You Can Lower Them ...
    In the simplest terms, your credit card interest rate is the cost you pay for having a credit card balance. . This penalty rate could be as high as 28% or more.
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  • The Pitfalls of Using Credit Cards | Credit Card Rate
    Apr 1, 2012 . Learn to Compare Credit Card Rates – Check the Features and . Penalties range from interest rate increases and lowered limits to fees of up .
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  • The Costs of Credit Card Debt | Debt Consolidation - Get Debt ...
    Apr 1, 2012 . Depending on the credit card, one late payment may be all it takes to increase your already-high regular interest rate to a stratospheric penalty .
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  • Credit card tips. Avoid high interest rates and penalties.
    Credit card tips. Avoid high interest rates and penalties. Consumer guide to frugal living. How To Cut Your Household Budget By $5000 A Year by Rick Doble, .
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  • Kohls Credit Card Review - Why It's a BAD Deal
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    The Effects of the Credit Card Act - NYTimes.com
    Jul 22, 2010 . Such so-called hair-trigger penalty interest rates and other deceptive practices were previously common. In fact, before the new credit card law, .
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  • Credit Card Buyer Beware - Learn More Today!
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    22, 2010, while others covering penalty fees took effect Aug. 22 of the . Generally, any increase in a credit card's interest rate is prohibited in the first year of an .
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10 Best Low APR Interest Credit Cards
Jul 5, 2011 . Looking for a credit card with the lowest interest rates? . no cash advance fee, no late fees, no over credit limit fee, and no penalty APR.
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Credit Cards – Do You Read the Fine Print? - Low Interest Credit ...
Things like balance transfer fees, late payment penalties, interest rates are often buried so they are easy to . Credit Card Trap #1: 0% Interest Rate Intro Rate .
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Debt Management Articles: The Dirty Dozen Credit Card Traps
Does the credit card industry profit mostly from interest rates? Yes. . And one more thing: You will stay in the penalty zone default APR for as long as the bank .
http://www.careonecredit.com/knowledge/credit_card_traps.aspx


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FTC Shuts Down Robocallers Who Claimed to Reduce Credit Card Interest Rates (February 2012), TXT. Telemarketer to Pay $500000 Civil Penalty for .
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