It is an overwhelmingly obvious fact that credit card companies are now quickly changing their rules for credit card use in order to alleviate the problems that they are facing due to the economic recession and, more importantly, be ready for the activation of the credit card bill.
The credit card bill, officially known as the Credit Card Accountability, Responsibility and Disclosure Act was drafted early this year and signed into law by President Barack Obama just this May. The bill aims to...
The economic crash caught many American consumers in surprise. However, financial analysts and watchers have said that it was a long time in coming.
For several years, American consumers had gone on a spending spree with their credit cards without really taking into account what the final costs would be. When the financial crash happened, credit industry experts saw that the soaring credit card debt played a large role in it.
The Federal Reserve maintains a survey of the total revolving...
The credit card industry has issued warnings that the passage of the credit card bill will mean that credit will no longer be available to some consumers.
Following a huge outcry from consumers, President Barack Obama and the congress have made a legislation that aims to correct certain practices of the credit card industry, which many consider to be deceitful and unfair. There is a high probability that the legislation will be placed on the President's desk by Tuesday next week. With...