Getting trapped in credit card debt has become very easy - WMC Action News 5 - Memphis, Tennessee

Getting trapped in credit card debt has become very easy

Getting trapped in the jaws of credit card debt has become alarmingly easy.

A Consumer Reports investigation in the November 2005 issue of the magazine finds that credit cards have become much more treacherous for consumers. The investigation reveals that credit card issuers have imposed interest rates in excess of 30 percent on consumers whose only offense might be a late payment to another creditor.

The magazine ranked the top 10 most consumer friendly cards. None of the 10 cards has a universal default clause, two-cycle billing, or balance transfer fee, all of which can jack up finance charges.

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