Thursday, March 8, 2007

Credit card companies say "I'm sorry"

I found an interesting article in the Washington Post where credit card companies are having to testify in Congress about their sneaky tactics. Apparently there was a many months long investigation regarding this stuff, with the following conclusion:
"Clearly, some companies have stepped over the line," the subcommittee's ranking
Republican, Sen. Norm Coleman of Minnesota

Uh, it took an investigation to come to this conclusion. Must be nice to not have to worry about having to use credit cards for this or that like most people. :)

The article did mention that Citibank has said they will do away with the wicked "universal default" clause...too bad none of my cards are Citibank ones.

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