Apparently the federal limits of credit card issuers can adjust rates led to higher rates and limited product offerings driving borrowers to less conventional lenders including payday lenders, loan sharks, and pawn shop rates.
Also the 2009 CARD (Card Accountability Responsibility Disclosure) Act imposed limits on credit card interest rate adjustments and penalty fees.
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
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