Universal default is a provision found in some credit card contracts. It provides credit card companies the right to raise their interest rates if the customer defaults on any of their loans ...

UNIVERSAL DEFAULT....Via Roy, the Consumerist has some entertaining liveblogging of Tuesday's Senate showdown between Carl Levin and the credit card industry: 9:34: And we're off. Levin has ...

I hope Gov. George Pataki signs the bill that prohibits "universal default" by bank card issuers - the practice of increasing rates when a cardholder goes delinquent with another business. Signing the ...

BOSTON (MarketWatch) -- Credit-card providers appear to be moving "universal default clauses" -- where interest rate increases are based on the way customers handle other credit accounts -- deeper ...

Wasn't universal default covered in the CARD Act? The CARD Act, which became effective in February 2010, was supposed to eliminate universal default, wasn't it? Well, partly.

NEW YORK (CBS.MW) -- Many credit card companies are using a relatively new tactic to raise interest rates on balances paid by cardholders. Relying on a "universal default" clause in their card ...

A universally detested practice brings us this week’s Marketplace Money buzzword: Universal default. Universal default is a credit card policy as cold as deep space. It lets a creditor hike your ...

I forgot to blog about this earlier, but here’s the latest news on Chris Dodd’s bill to bring a little common sense to the credit card industry: Dodd’s original bill had sought to ban all ...

Tess Vigeland: We do love our plastic. This week, the Federal Reserve reported that consumer debt rose by $14 billion in June. Uh oh! Well, for today’s summer school session, we’re educating ...

WASHINGTON — In response to congressional pressure to reduce fees and interest rates, Citigroup Inc. plans to stop a controversial credit card practice commonly referred to as universal default, a ...