Some of the nation’s biggest credit card companies are changing the way they calculate the interest charges on an undisclosed number of accounts.
They’re moving customers from fixed rates to variable rates — a potentially costly change for those cardholders.
It’s the latest example of how credit card companies are reacting to the new consumer protection law limiting their ability to raise fees and rates, which takes effect next February. MORE
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Yes they are sneaky. I recieved a letter stating that my accout may have been compromised by a third party and therefore would be closed and given a new account number. My account had a fixed rate but when I got the new card it was a variable rate card. I always keep the account paid up every month so the sneaky trick won’t bother me.
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