With the struggles in the banking industry, many financial institutions are looking to their credit card branches to help them recoup losses. Traditionally, credit cards are the most profitable venture a bank or lending institution offers. With the high rates they charge both consumers in interest and the merchants in fees, this is usually a win-win for the company. Unfortunately, consumers are being hurt by this crunch. Many credit card companies are now increasing interest rates to help drive up the profits. Even good customers, with strong credit scores and payment history, are receiving letters notifying them their interest rates … Continue reading →