Looks like the days of a fixed credit card are jusssssst about over.
Full disclosure: I have several credit cards with a variety of companies. My cards that are with Chase (aka JP Morgan) all sent me a notice in the past month strong-arming all cardmembers that 1) if you owe a balance, your rate is going up 2) we will bend you over and *$(& you in the arse if you use a balance transfer by charging you 5% of the amount 3) If this pisses you off, close out the account and pay us back.
On the other hand, Home Cheapot increased my credit line by 1500 bucks. Lackluster sales, maybe?
Advanta, which issued cards to small businesses, shut down their company altogether and just wants you to please pay them back. Capital One may be next, which is why they absolutely HAD to buy MD based Chevy Chase Bank.
The days of leveraging credit card advances and playing the balance transfer game. The entire American economy and most of its population (including this author) all fell for the trap of debt and overleverage at some point and in some manner.
