13. Any credit card debt should be frozen at the rate when it was incurred
We need to put a stop to this insanity of allowing credit card companies to change rates to fleece debt holders. Raise the rate on new debts if there is a problem with lending to them. The current system is about as predatory as I can imagine.
It amounts to they will lend to you all the way until you can't pay it off, then raise your rates because you are not going to be taking on new debt so it doesn't matter how high your rates are. They need to keep the rates low on people who they haven't suckered in yet.
"Hey borrow money from me I'll lend at 7%, no wait 30%+."
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