No the problem is once they are into you, they sell the account to someone else and they send you a notice of new terms. Your choice is to either pay off the debt immediately or live with the new terms.
That's how they get the rate up to 27% and current law allows them to do it. And they don't have to sell the account to change it. All they have to do is send the notice. But often they will sell it.
Do you think it wise to cite a website maintained by the only openly socialist member of Congress as support for your position? It's hardly a conservative one.