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Unfortunately, yes.

2006-09-05 18:06:52
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Q: Is it legal for credit card companies to increase your rate if you have not been late or had any other penalties with any other credit card?
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Related Questions

Can bankruptcy discharge legal fines or penalties?

No, it does not discharge legal fines and/or penalties.

What is a common legal penalty for a DUI?

Usually for a first offense penalties include a fine, probation, or suspension of license. After that the penalties are pretty much the same, but increase with severity.

Is it legal for cable or phone companies to obtain a credit report and use it to decide whether to service a new customer?

Normally they do not do this, however it is legal. It is legal and customary for utility companies to pull credit in response to a request for service. Many utility companies also report delinquencies on the bureaus. PECO (Pennsylvania Electric Company) is a specific example). The use of credit reports and credit scores is widespread and is a motivating factor for consumers to educate themselves and manage debt wisely. Some other examples of when credit is pulled are; by insurance companies, for employment purposes, by rental companies and by banks for savings and checking accounts.

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Depends on where you live, but the penalties are similar to marijuana charges

Is it lawful for credit card companies to charge unfair high credit card rates?

There are legal limits to how much interest can be charged. Usury rates are different in each state, most credit card companies are smart enough not to break the law.

Will a credit card company collect on a debt when the person has no money to pay the debt?

Yes, the credit card company will just continue to send you the bill until such time that your balance reach an amount applicable for a legal proceeding. When you don't pay your bill, your balance will accumulate penalties and charges, which will increase your balances monthly. Therefore, it is best that you seek the assistance of a credit card debt help counselor.

Is it legal and ethical for a business in Illinois to add a credit card convenience fee to a bill?

I don't know that it is legal or not, but most credit card companies will raise a stink about it! They don't want people to pay more for something because they use a credit card.

Who is not at risk for legal penalties related to the use of illegal drugs?

People who do not use drugs are not at risk for legal penalties related to the use of illegal drugs.

Can your existing credit card companies pull your credit?

Absolutely. You authorized additional pulls of your credit when you established the account. This is not only legal, but customary. Credit card issuers periodically check your credit to see how you are managing your financial obligations. If they notice late payments on other credit accounts, they can use clauses in your contract to raise your interest rate, even if you have never paid THEM late. They also perform an inquiry into your credit report in conjunction with an increase of your credit limit.

Is it legal for credit card companies to threaten to call relatives in an attempt to collect on a past due balance?

Credit card companies may call relatives that were given as a reference on the car loan. It is not illegal to call them, it is illegal to harass them.

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It depends on what the illegal substance is. Crystal Meth penalties are the highest for possession

Is it legal for a used car dealership to run your credit more than once without your permission?

Technically, it may be legal depending on the circumstances. A business does not need your express permission to run your credit, but must have a "permissable purpose" for doing so. Credit card companies may re-check your credit to determine continued creditworthiness, car companies can run it several times for several potential lenders, and your employer may run it for background. If the company you are referring to did not have a permissable purpose the second time, it might not be legal.

Who gives you penalties when you break the law?

The legal system or courts.

Is there legal recourse if your credit is checked without permission?

No. Companies often check your credit report to see if you match their offer for credit. Get on the privacy alerts services and they stop that from happening. I have LifeLock and no one gets to my files unless I want them to.

What happens if you max your credit cards out then don't pay?

If you max your credit cards out and then don't pay, the companies may take legal action against you. They can sue you and attach your bank accounts to recover their money.

Can an employer obtain a copy of your credit report?

Many companies ask if they can get a copy on their application. We screen all canidates this way and it is completely legal. Credit is an awesome way to determine a candidate's ability to manage.

Is marijuana legal in Australia?

Marijuana is not legal in Australia, and driving under the influence of marijuana carries severe penalties.

Can companies come after you legally if credit card debt is not paid?

Of course they can! You signed a legal agreement giving them the right to come after you in exchange for loaning you money.

Can a car rental company legally check your credit?

No, car rental companies do not have the legal right to check your credit without your explicit "written" consent. They can only charge to your credit card. They also have no right to do a background check. That said, many car rental companies will provide you with a form for you to sign, giving them written consent to check your credit history, especially if you are not from the agency's local area.

Why is it okay to lie on a legal questionnaire?

It is not okay to falsify information on a legal document. Most such documents include information about penalties for doing so and the penalties often involve fines and/or imprisonment if caught.

How old do you have to be to have a debit card?

Normally 18, age of legal responsibility. There are some companies who give children a card connected to their parents credit card account.

What are the affects of computer piracy?

The effects of computer piracy are widespread and felt throughout the software industry. It cause the prices in the companies legal sale to increase

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What are the effects of computer piracy?

ThingsThe effects of computer piracy are widespread and felt throughout the software industry. It cause the prices in the companies legal sale to increase

Is it legal to buy a money order with a credit card?

YES if the money order seller takes credit cards it would be legal.