Citibank is failing so they are raising interest rates on credit cards, just because they can. That's ok for Pkin and I; we have one Citi account each, both without balances. But what about the people who are barely making payments on their accounts? They might be trying to make ends meet with housing costs and now with more credit card payments it's just worse. Now they may default on home loans, that will impact Citi's bad investments, and Citi will raise rates more, and people will default, and so on and so on and so on.
What is the answer?
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