The credit card bill's passage may have provided some hope to consumers over the way that their credit card companies were charging and billing them but the changes are still several long months away. In the meantime, credit card companies are continuing their objectionable practices and are even making them worse.
As the credit card bill's activation comes nearer and nearer, credit card companies are beginning to get worried that they may not be able to make a profit as well as they used to...
For many people, especially consumers, the passage of the credit card bill probably felt like a huge victory over the credit card companies. For many years, credit card companies have done their utmost to profit from their customers, from offering credit to subprime borrowers in exchange for excessive interest rates and fees to predatory practices such as sudden rate and fee hikes.
The credit card bill was created to answer these problems and level the playing field for consumers....
The credit card bill was drafted for the purpose of protecting consumers from the dangers of overusing their credit which usually results in heavy debt. Case in point: the current credit crunch is a direct effect of the large defaults that credit card holders started to do once the economy tanked and consumers began losing income.
The legislation in the credit card bill will changes some of the fundamental rules on how credit card companies run their business. The primary target is the...
The credit crisis has everyone worried about their financial stability. In this tough economic times, credit cards have become a vital life line for every American consumer. Thus, their worries about not being able to make the monthly payments and losing available credit is quite valid. It is also quite understandable why many American consumers are very interested in protecting their credit. However, one thing they should never do is get credit card protection. Here is why.
American...