Look for a card that does not include a universal-default clause. Look for a card that has a lower penalty rate if you actually do default. The 30-percent-plus rates are not in use everywhere.

UNIVERSAL DEFAULT....Via Roy, the Consumerist has some entertaining liveblogging of Tuesday's Senate showdown between Carl Levin and the credit card industry: 9:34: And we're off. Levin has ...

I forgot to blog about this earlier, but here’s the latest news on Chris Dodd’s bill to bring a little common sense to the credit card industry: Dodd’s original bill had sought to ban all ...

Actually, this is known as "universal default" and has been around since at least 2003 -- before the Oct. 17, 2005, effective date of the new bankruptcy law. The new law says nothing about the ...

The new legislation, introduced to the UK Parliament this week, would ban universal default passwords and work to create what supporters are calling a “firewall around everyday tech.” ...