What Does a “Universal Default Penalty” Clause Mean On My Credit Card?
Monday, March 30th, 2009You apply for a credit card that has an advertised 10% APR. The card is approved and you spend money on it. Some months later you notice that the interest rate cannot possibly be 10% APR but is nearer 30% APR. You immediately claim you have been cheated; but the credit card provider counters that […]