I wouldn't call credit card companies evil, but they do gouge people for every penny the law will allow.
I went on vacation in May last year, and carelessly spent far to much money, going over the limit on my credit cards. I didn't have the funds to immediately pay the over-the-limit amounts, the over-the-limit fees and the regular payments all at once. So, for the next three months I had a series of late payments as I juggled bills.
Now, I'm saddled with 28% interest rates and very high payments until my credit score comes down again, however long that will be. In the meantime, my credit balance goes down only about $20 per month.
Yes, it is legal, and yes, it is my own fault. Meantime, the credit companies are making huge profits off me, and will for many months to come. Bills are nearly impossible to pay off at 28% interest. That's what bills like this, and others that increase the interest rate ceiling, are really about, to keep people in debt forever.
This law is intended to keep people from having their debts eliminated in bankruptcy court for reasons that have nothing to do with a hardship on the part of the person in debt. "I spent too much on vacation," would probably count as one of those.