It seems that the government may have made an enormous mistake giving credit card companies several months leeway to adapt to the credit card bill. Credit card companies are now doing everything they can to increase profits before they have to deal with the credit card bill. Unfortunately for credit card holders, this means more expensive interest rates and fees and drying up credit.
The credit card bill, signed May this year, is set to become active next year, February. Although some of the...
The credit card bill will soon be active in a few months. With the bill in place, credit card holders are finally going to see their credit companies take on a semblance of fairness when dealing with them. Or will they?
Set to become active next year, on February, the credit card bill may be coming in too late. The release of the credit card bill may have been met with widespread approval by credit card holders and their supporters but the credit industry positively loathes it, and with good...
The credit card bill signing into law was greeted with widespread support from consumers and consumer advocates. Many believed that the law would finally bring to close the era of predatory lending and other unfair practices from credit companies. However, many soon realized that a fundamental flaw in the bill would cost credit card holders even more: the nine month window before the credit card bill becomes active.
While the credit card bill was signed last May, full activation of the bill...