October 2009

Chase Targets Students and the Elderly for APR Increases

October 16, 2009

Chase has made changes to the following card offers: Raised purchase APR on the Chase AARP Rewards Card from a range of prime rate plus 5.99%-14.99% to a range of prime rate plus 9.99%-15.99%. Chase also raised cash advance APR from prime plus 15.99% to prime plus 20.99%. Raised purchase APR on the Chase Student [...]

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Discover increases purchase APRs, drops Open Road credit card

October 11, 2009

Discover has increased minimum purchase APR’s from 7.74%+Prime to 8.74%+Prime for the Discover More, Discover Motiva, Discover Miles, and Discover Escape credit cards. Also, Discover is no longer offering the Discover Open Road and Student Open Road cards.

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Sweeping Rate Changes at American Express

October 10, 2009

American Express updated every card offer in some way over the past quarter. Generally speaking, minimum APR’s were increased and balance transfer promotions were reduced in reaction to credit card legislation which makes it more difficult for credit card companies to raise APR’s on customers and charge late fees. American Express Preferred Rewards Green Card [...]

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