|
Credit Cards: Are Consumers Being Overcharged? Like a lot of credit-card-carrying Americans, Paul Antico has had his wallet hit hard in recent months. His Bank of America credit card went from a fixed interest rate to a variable one that changes from one billing cycle to the next. Citibank has raised his other card's interest rate from 5.99 percent to 14.99 percent since late May, even though Antico pays on time, and his reward points have become harder and harder to redeem. "These are back-stabbing things," says the 37-year-old Massachusetts resident and technology analyst. "Customers are paying to keep the banks afloat, and the thanks we get is 'Go screw yourself. Here's a higher rate.' " By Nancy Cook Thursday, November 5, 2009 Read more...(2 Pages)
| Read Full Article |
| Next Article |
| Prev Article |
| BUSINESS |
| Send to a Friend |
| Newsweek Main |
| About Newsweek |
| Contact Us |
| Help |