Consumers beware! Most people know…
…that paying your credit card bill past the due date will effect the interest rate on your card. The more times you pay late the higher your interest rate will climb until it reaches the legal maximum.
But what many consumers are not aware of is that if you have several credit cards that are related to or affiliated with the same parent company, when you are late on a payment to one card it will affect the interest rate on ALL your cards.