When the credit card bill was passed last May 22, credit cardholders in the United States were elated, expecting a slew of changes in credit card industry practices which will benefit them.
While it is true that the credit card bill will put a stop to some of the more predatory practices of the credit card industry, the changes that the credit card bill will bring will actually have both a positive and a negative effect on credit cardholders. What follows is a list of the pros and cons that...
When the credit card bill was released, merchants were less than pleased that they had been left out.
While addressing many unfair credit industry practices such as unfairly high interest rates and fees and obfuscated business practices, the credit car bill left out merchant's pet credit industry peeve: interchange fees.
Merchants pay an interchange fee every time their customers buy from them using credit cards. These fees average at about 1.75 percent of a credit cardholder's purchase...
The credit card industry is in an uproar over the legislations in the recently passed credit card bill. The credit card bill is aimed at legislating many credit card industry practices that cardholders see as unfair and deceitful. For the credit card industry, the credit card bill is a disastrous piece of legislation which will destroy their profitability and, according to them, limit the available credit for American consumers.
During the past few years, the credit card industry has enjoyed...
Last Friday afternoon, President Barack Obama and key personalities from congress gathered in the White House for the signing of the credit card bill.
The credit card bill is a controversial bill that aims to correct what many see to be the fraudulent and deceptive practices of the credit industry. Amidst the outcry of overburdened credit cardholders, the President and the Congress responded with a bill that curtails arbitrary interest rate increases, protects cardholders paying off debts,...