Guess How Many Credit Card Companies Engage in “Unfair and Deceptive” Practices?

By Brad Tuttle | @bradrtuttle | October 29, 2009 | +

You’d think there would be at least one or two credit card issuers out there that weren’t totally trying to rip off customers. But you’d be wrong.

A new report, summed up on a Consumer Reports blog, shows that 100 percent—100 percent !—of the credit cards issued by the 12 biggest U.S. banks have demonstrated practices that would be classified as “unfair and deceptive” under the credit card laws due to go into effect in February 2010.

This is basically why people are urging Congress to move up the new law to go into effect by December 1, and/or to freeze card rates and fees.

Related Topics: APR, fees, rip-offs, Credit Cards

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