At the moment, seeing your credit card interest rates rise could be the worst possible thing. Unfortunately, this is exactly what is going to happen to millions of credit cardholders. In fact, it has already begun. If you are one of the credit cardholders who carry a balance on your credit card and your current interest rate is below 10%, you may soon see your credit card interest rates jump to double figures.
Major credit card companies American Express, Citibank, HSBC, Capital One and Bank...
One of the most talked about features of the credit card bill is its lack of support for small businesses. Currently, small businesses are suffering gravely from the effects of the economic crisis. They are in even worse straits right now because the exploitative practices of credit card companies that were the bane of private credit cardholders are also theirs.
The worst part is that, while private credit cardholders have something to look forward to a few months from now, when the credit...
Debates about how good or bad the recently passed credit card law is has been going around even before the legislation got out of congress. There have been some valid points voiced out but, in the end, the credit card law is simply a compromise so that the credit card industry and the consumers survive the on going economic crisis and, perhaps build a better relationship between credit card companies and consumers.
The credit card industry found itself on the verge of collapse when, at the...
The passage of the credit card bill has given credit cardholders a lot to look forward to when it becomes active after nine months. With the credit card bill in place, credit cardholders can expect to see limitations being put in place for interest rate hikes, credit card agreement transparency, and generally, more protection for them from unfair credit card industry practices.
However, a key fact is being overlooked by many of those who are hailing the approval of the credit card bill –...
The credit card bill has just made it out of Congress and is headed for President Obama's desk. The bill is expected to be signed by the President on Friday. As the credit card bill nears completion, the credit card industry is looking ahead to an ominous future.
Risky borrowers have been very lucrative for credit card companies for the past few years. Lending to borrowers with low credit scores may mean that the chances of them paying their debts are low but creditors have not been daunted....
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...
It seems that President Barack Obama's all out support for the credit card legislation may finally yield results come Tuesday. According to Sen. Harry Reid, Senate Majority Leader, the U.S, senators have decided that Tuesday evening will be when they will hold a vote on whether the credit card bill will get senate approval or not.
The credit card legislation under deliberation in the Senate aims to stop controversial credit industry practices. It will also make it much more difficult for...
President Barack Obama continues to be an all out supporter of the credit card bill, which is aimed at protecting credit cardholders from some of the shadier practices of the credit card industry. To recall, credit card companies issued massive interest rate hikes and late fees, which had credit card consumers crying foul.
The House has already answered the outcry of the consumers with their Credit Cardhoders Bill of Rights and Senate may release their Credit Card Accountability,...