Credit Card Fees

I wrote an article here called The Guide to 0% Credit Card Fees, and while I thought the info was good, it wasn't very complete and I thought I would jot down a few more ideas on the subject here. Check this out, taken straight from a Visa card terms and condidtions:

Rates, fees, and terms may change: We reserve the right to change the account terms (including the APRs) at any time for any reason, in addition to APR increases that may occur for failure to comply with the terms of your account. For example, we may change the terms based on information in your credit report, such as the number of other credit card accounts you have and their balances. The APRs for this offer are not guaranteed; APRs may change to higher APRs, fixed APRs may change to variable APRs, or variable APRs may change to fixed APRs. Any changes will be in accordance with your account agreement.

I just want to talk about the bold segements. They can change you APR at any time for any reason. This right there pretty much makes the remainder of the verbage pointless, bu they go on to say that your APR can be increased due to changes in your credit report.

That last little nugget means if you pay your water bill late, and it shows up on your credit report your credit card APR can go up.

I mean wow. I'll be shocked by that for sometime to come.