12-01-2008, 04:35 AM
Banks and CC issuing companies have recently given themselves permission to look at customer activities - not directly involving them - and adjust interest rates for existing customers by using criteria unrelated to their history with the customer.
If you change jobs, have more than an average number of credit inquiries or inquiries from 2nd or 3rd tier lenders or the demographics of your zip code change or your home equity goes upside down, it's all quite arbitrary and clearly unfair to cardholders.
Not to mention that cardholders carrying balances won't be able to transfer those balances elsewhere as easily as they once could. If they think they have you trapped they'll start the interest squeeze and hold your credit history as hostage.
These modern day moneylenders are evil people. :mad2:.
If you change jobs, have more than an average number of credit inquiries or inquiries from 2nd or 3rd tier lenders or the demographics of your zip code change or your home equity goes upside down, it's all quite arbitrary and clearly unfair to cardholders.
Not to mention that cardholders carrying balances won't be able to transfer those balances elsewhere as easily as they once could. If they think they have you trapped they'll start the interest squeeze and hold your credit history as hostage.
These modern day moneylenders are evil people. :mad2:.