Consumers Are Learning The Hard Way: There's No Such Thing As A Fixed Rate Credit Card

Consumers Are Learning The Hard Way: There's No Such Thing As A Fixed Rate Credit Card

For years personal finance experts have been telling consumers to watch out — that there was “no such thing” as a “fixed rate” credit card — the bank can raise your interest rate whenever it wants as long as it gives you a little notice. You don’t have to miss a payment. You don’t have to do anything “wrong.” Now some consumers are learning the hard way.