Soccer Mom Elaine on Universal Default

My latest post is up at The Soccer Mom Vote. I usually talk about social politics but this time the financial world bit me in the ass and I'd like everyone to inspect the scar:

"...this trend in credit cards jacking your rate based on your relationships with other vendors is becoming the latest craze in the business. It's called a "Universal Default Clause" and by signing up for a credit card who embeds this little clause in the fine print you agree that even if you're one day late on a $20 phone bill, your credit card rates can skyrocket from the nice reasonable rate you've been enjoying to up to 29.99%."

Click on the quote for the full article and for an offer to hide under a big blanket with me. Come on in, we've got plenty of room, a whole box of flashlights and stacks of comic books. It'll be like old times.