Find the best financial services for you at: SMARTFINANCESOLUTIONS.NET - Under the new Credit Card Act of 2009, can a creditor now look at your credit report & increase your interests? - Under the new Credit Card Act of 2009, can a creditor now look at your credit report and increase your interest rate and add an annual fee to the card when you have NEVER been late with them? In fact, NO late payments have been made to ANY creditors. I know that on my father's credit report, there are a few things that need to be cleaned up from his bankruptcy which was 7 years ago (which I am in the process of getting this handled for him) and have not been reported properly but they have not been more than 30 days late on ANY payment to ANY creditor in years. The creditor sent a bill yesterday that said due to serious delinquency on his credit report (which would be the items needed to be indicated where they were included in his bankruptcy 7 yrs ago) and proportion of balances to credit limits is too high on bank revolving accounts (his amount owed to amount of debt is currently at about 40% as he's working to pay things off and close the accounts), he now will be accessed a $49 annual fee and his interest rate will now go to 29%. Is this legal under the new Credit Card Act of 2009? -
