Flynrider
Phoeix,#2Consumer Comment
Fri, October 02, 2009
They are extending unsecured credit lines to high risk borrowers. Actually, I'm surprised that they haven't just shut the card program down, like most other players in this market.
You need to realize that the kind of credit they're extending has become extremely expensive. After the trials of the past year, most banks are not willing to even consider an account with a poor credit risk. If they do, they're having to charge a large premium to cover the risk. If you read your card agreement, I'm sure that you'll find that they are within their rights to change the fees charged, and you are also within your rights to choose not to accept the higher fees. Just pay the card off and you're done.