Several of the big banks will now take the initiative after you miss two payments in a row, and offer either a short payoff deal or severely reduced interest rate. You don't have to call them; they send the offer to you.
Now that understanding banks' credit card red flags is spreading, banks are facing a wave of consumers who have learned a bit about the mathematics of default detection -- enough to circumvent the algorithms.
The main debt problem currently besetting the U.S. economy is not primarily a debt problem at the federal level, no matter what Paul Ryan claims or implies. It is a debt problem at the level of people's personal finance.
When those who worry in the abstract about the debt "burden" of federal expenditures on our children, they forget that our youth's and children's present is jeopardized by the burden of private debt born by US households.
Now is the time to reduce our credit card addiction. While fees and high interest rates will continue to be a reality, there are steps an individual can take to prevent falling into the credit card trap.
I wonder how much thought these people were giving to the people they make their money off of. People like the 90-year-old woman who was threatened with jail for failing to return an Information Subpoena,