Credit card firms raise fees before law changes
The offer from his credit card company last year was too good for Bob Leonard to refuse: checks he could use to borrow money at 3 percent interest and a promise the rate wouldn’t change “until the balance is paid off.’’
So for an upfront fee of 3 percent, the 47-year-old software executive used the checks to charge nearly $40,000 to his credit card for renovations to his home in Medford.
