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Interchange fees suspended for donations to Haitian relief…
Recent business and financial news has warned of credit card issuers jacking up rates in advance of federal rules that will put limits on the practice. Just when many people are struggling to figure out how to make ends meet in the midst of a recession, they’ve been slapped with higher interest rates. The logical assumption is that consumers need to minimize their credit card usage to stay out of the cross hairs of lenders. But at least one company, Citibank, the second largest credit card issuer in the country, is using a totally unexpected tactic – lowering interest rates for customers who use their card a lot. (more…)