The main problem with Inkstains theory about when times are tough then the risk is higher to credit card companies is that knowing a lot of people are struggling right now and then increase the rates, which I assume will also increase their payments (if not then the balance is going to start ballooning), is that you are risking having even MORE customers default, just as KG101 is suggesting.
We haven't had any interest hikes because our credit cards were already crazy high. Making progress on paying them off though.
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