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The universal default clause.

The universal default clause is method which credit card companies use to increase your interest rates for financial protection. The lender changes the terms of credit card from the current percentage rate to the credit cards default pricing terms state in the application. The reason they can legally justify this change is the default terms basically states you are a credit risk. It takes very little for you to be classified as a financial risk. If you are late in your payments you are determined to be a bad credit risk. The point is: if your credit score drops because you have recently had credit checks for financing(refinance, car loans, home equity loans, and so on) which dropped your credit score; the credit card companies can use this slight drop to increase your risk level and raise your rate to the level state by the universal default clause. It is so amazing to me that your rate can be raised even if you have never been late on a single payment in your life..

When credit card companies can implement the universal default clause!

If you have a credit card which has been defaulted with another lender in the past.
When your credit is in good standing.
After making every single credit card payment on time.
After requesting home mortgage loans.
After requesting auto loans.
Requesting 0% financing from local retail stores.
Carrying high balances on multiple credit cards.
Miss payment due dates.

The worst part is once you get on track financial freedom and you may be penalized by the universal default clause. You can default with a lender and clear up all problems with that lender and position yourself in good standing, another creditor can use that one default to raise their rate and start a chain reaction with all of your existing credit card rates. It only takes a single creditor to use the universal default clause against you to create a major plummet in your credit card risk assessment.

If you have bad credit you must be extremely selective when choosing your credit card provider. You must make sure whether or not they have the universal clause written into the contract.

A creditor uses a high credit risk rating to implement their tool "default clause" as they are not going to take a chance.  A creditor is a business, not a person.Most individuals want to look at creditors as humane, but their one and only goal is to add to the profit margin in what ever way best suites their investments. If they raise their rates right now they will make their money back at a much faster rate and turn a larger profit at a much faster rate.

Since knowledge is power; do your research on available credit cards. Research and find a 0% interest credit card or a low fixed rate credit card which does not have the universal default clause in their terms and transfer your balance immediately.

You must be proactive in preventing future increases on your credit cards.  Just remember you can have a great payment history, and never defaulted in your life and have the universal default clause applied to your account.

Get more information click one of these two:

0% interest credit card offers , or fixed interest credit card offers

When it comes to 0% credit cards offers you will find no better offers directly from the credit card companies than these: