If you have ever found yourself in credit card debt, you have probably been a victim of the credit card company tricks including fluctuating interest rates and finance charges. In most credit card contracts, there is a universal default clause that allows your credit card company to increase your interest rates with no notice and for no particular reason.

Your rate can increase due to a late payment, because you took out a loan or anything else that the creditor might deem risky and an impact on their repayment schedule. You can ask for a lower interest rate, but that’s chancy, and the creditor is under no obligation to make any change in your rates.       Continue Reading