Money Talk: Credit Card Issuers Can Change Future Rates Any Time
Question: I have had a certain credit card for over five years. I just received a letter stating that my interest rate was going to be raised from 10.24 percent to 12.24 percent. My FICO score is 819 and I have never had late payments on any of my cards. I called the issuer to complain about this change but they will not reduce the rate. The letter states that they obtained my FICO score of 819 from Experian and used the score to make...
