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Yes, I think many of us have examples of the Universal Default clause hitting us in the butt.

A few years ago, before DH had met me (and become Foolish), he left for vacation and forgot to schedule his CC payments that were due before he got back. He couldn't get internet access from the remote island he was on, so he had to do it when he got back, and they were a few days late - less than a week. The two cards (Chase and Citibank) jacked his rates up from 12.9% and 7.9% to 28% and 29% immediately.

One phone call to Citibank and they brought the rate back down to 7.9%. The Chase card refused to budge and only recently has been coming down in dribs and drabs (with a phone call every three months) to 25% or so.

Fortunately that same Chase CC that still sees him as a credit risk because of that one late payment a few years ago, is perfectly willing to send him BT checks at 3.9% for life, so the whole balance got BT off and BT back on again to take advantage of the much lower rate!

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