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To: Sherman Logan
Banks started raising rates for no real reason a few years back. If she can do it, her best bet would be to take a signature loan at a reasonable rate with a three to five year term and pay off the cards with that.
8 posted on 04/05/2011 9:29:06 AM PDT by wagglebee ("A political party cannot be all things to all people." -- Ronald Reagan, 3/1/75)
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To: wagglebee
Banks started raising rates for no real reason a few years back.

No real reason? You don't count legislative pounding as a "real reason?"

When they're forced by law to allow you to pay down the highest interest balances first, for example, that radically changes their price structures, as does capping subprime card fees and interest rates for people with bad credit.

When you change the laws, for better or worse, the credit card companies are going to make adjustments to take those changes into account, usually by raising their interest rates.

29 posted on 04/05/2011 10:30:44 AM PDT by mvpel (Michael Pelletier)
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