Monday, March 05, 2007
Note: Some news links may expire one week after posting.Citi Dropping Credit Card Universal Default Clauses
In a surprise move, last week Citibank dropped "universal default clauses" from its credit cards. Those provisions punish you (rate-wise) if you fall behind in any other consumer debt. They also are dropping the provision that lets them raise rates "any time for any reason." Has hell frozen over? For more consumer news, visit Consumer World.
