Credit card holders hit with arbitrary interest rate hikes in recent months might be stuck with the extra burden, despite the high-profile congressional effort this year to protect consumers from such increases.
Got credit card debt? You’re not alone. According to a recent report, consumer credit card debt has increased 75 percent since 1999 while wages have remained flat and savings rates have declined to their worst since the Great Depression. Already banks are hoarding cash in preparation for what analysts say is the next great crisis.
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