Credit Card changes: loophole is variable rates

Written by LowCards.com A Big Loophole in the Credit CARD Act: Variable Rates The Credit Card Accountability, Responsibility and Disclosure Act was passed in May to protect consumers from large interest rate increases, spiraling fees, and changing terms. Despite the hype about the bill and politicians promising to help protect cardholders against unfair rate increases, last week the public learned of a provision in the bill that still allows for credit card companies to raise rates without