How in the world did some of the credit card companies come up with the universal default system?

Just in case some of you dont know this means if you are late on ANY bill payment the credit card company can raise your intrest rate.Thats like an animal who is hunting,it find one thats good %26amp; healthy,then all of a sudden it becomes cripple %26amp; the other animal devoures him for a meal.Most of your credit card companies are owned by banks %26amp; the banks are dragging in more money.Why doesnt the pipsqueaks in Washington do something abt this?|||Because the pipsqueaks don't fear the voters. Voters are bad about calling or emailing these people and putting up a fight to get something done.





If the voters would get proactive, we would already be fixing social security, immigration and the budget.|||Sounds like a conspiracy to me.|||i dont care i am glad most of my credit cards dont have thus policy.|||Simple cure...don't be late on ANY bill payment. Please don't count on the government to bail you out of everything.|||This is the disadvantage of a centralized credit system. The banks, credit card companies and so on are all interconnected and share information.


Thanks of course to computer connections and the internet.


That is the downside of instant communications and interconnection.


Your best solution to this is to manage your own credit in a proper manner so that you do not get stuck.