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| Credit Card Rate Hikes (abusive fees and rate hikes) |
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| | 143 | LEAD PLAINTIFF: Case Filed: 2008-03-17 |
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Case Summary: Credit card abuse is rampant. If you have suffered credit card rate hike from one month to the next as a result of a late payment or overlimit; if in the past you received a pre-approved offer for an account "Up To $3,000" (or some other amount), but were provided a card with a much smaller credit limit and an annual fee; if you have suffered credit card annual fees that trigger overlimit fees; if your Providian credit card account was transferred to Chase along with a substantial rate increase, then you may wish to talk to a lawyer. Credit card companies are increasingly offering teaser rates and then dramatically increasing the rates without notice on the basis of a single late payment, or an overlimit, or some other pretense. These unfair practices are driving interest rates out of sight. Case Detail: Lawyers working in the area of credit card abuse are actively pursuing credit card companies whose predatory practices involve (1) Unannounced Rate Increases, (2) Unannounced Credit Reductions, (3) Overlimit Fees triggered solely by annual fees, and (4) Pre-approved and other Special Offers that are not honored. Actions can be brought for incidents that occurred several years ago, particularly when the abuses are ongoing. |
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