Card Issuers Are Scaring Consumers
BOSTON — With the government changing its rules about credit cards, the card issuers are changing the terms of their agreements with consumers. But consumers aren’t changing a thing.
As a result, they’re suffering through bad deals because they fear what might happen to their credit score if they try to stand up for themselves and be a smart customer.
“Consumers have a tendency to focus on the nuances of credit scoring and often lose sight of the bigger picture,” said Greg McBride, senior financial analyst at BankRate.com.
“They are so worried about something hurting their credit score — particularly in an environment like this one where lenders are tightening up and making it harder to qualify — that they are willing to live with bad terms that they never would have agreed to in the first place,” he added.
Read more here: Card Issuers are Scaring Consumers
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[...] crediecardchase wrote an interesting post today onHere’s a quick excerptBOSTON — With the government changing its rules about credit cards, the card issuers are changing the terms of their agreements with consumers. But consumers aren’t changing a thing. As a result, they’re suffering through bad deals … [...]
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