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Knowledgebase Home | Favorites | Forum Welcome to our knowledge base. To find what you're after, use the search box below or choose a category to view listed articles. Search the Knowledgebase Browse by Category [Advanced Search] -- Select Category -- Credit MythbustersLoans    - Personal Loans    - Auto Loans    - Home Loans    - Student LoansCredit CardsCredit Reports and ScoresCredit Report CardIdentity TheftDebt HelpConsumer Law Guide    - College Cost Reduction and Access Act    - Credit Card Accountability Responsibility and Disclosure Act (CARD Act)     - Credit Repair Organizations Act (CROA)    - Equal Credit Opportunity Act (ECOA)    - Fair and Accurate Credit Transactions Act (FACTA)    - Fair Credit Reporting Act (FCRA)    - Fair Debt Collection Practices Act    - Overdraft Rules for Debit and ATM CardsCustomer Support The article has been updated successfully. Knowledgebase Home > Credit Cards Universal Default Clause Article Details Last Updated 28th of August, 2010 Would you like to... Discuss Print this page Email this page Post a comment Subscribe me Add to favorites Remove Highlighting Edit this Article Quick Edit Export to PDF User Opinions (212 votes) 74% 25% How would you rate this answer? Helpful Not helpful Help us improve. Why was this unhelpful? Thank you for rating this answer. A credit card policy that allows a creditor to increase your interest rates if you make a late payment on any account, not just on their account. Universal default clauses were banned under the CARD Act - credit card issuers are no longer allowed to use this practice to increase cardholder interest rates. Related Articles If I don’t plan to make any big purchases (i.e. house, car) in the next seven years and I clean up my credit during that time, does it really matter that I currently have bad credit? Can you outline the new rights that the CARD Act provides? What CARD Act changes become effective as of February 2010? Should I use a cosigner? What is a variable rate credit card? Continue