Released: October 23, 2009

5 evil things credit card companies can (still) do

Source: Julianne Pepitone, CNNMoney.com

Credit card companies are socking it to consumers left and right.

They’re hiking interest rates to as much as 36% and doubling minimum monthly payments, frustrating customers who are already cash-strapped and credit-crunched.

In an effort to curb these abusive practices, President Obama signed into law a credit card reform act in May that’s rolling out in three parts over 12 months.

At the same time, credit card companies have been hard at work coming up with new ways to boost profits while sidestepping the reforms.

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