The credit industry is understandably worried about the new credit card bill signed into law by President Obama last May. The credit card bill, an answer to the mounting clamor of credit cardholders burdened with increasing interest rates and fees, will put a number of restrictions to the credit card industry. Among others, the credit card legislation will disallow interest adjustments on existing debts, limit who the credit card companies can offer credit to and push for complete transparency...
Continue readingWith employment problems and a struggling economy to deal with, more and more American consumers are seeing their credit cards as their last life line. Unfortunately, as credit debt problems continue and credit companies try to secure their future profitability when the credit card bill comes into play, credit is drying up at an alarming rate.
Equifax, a company specializing on providing credit data to credit companies and similar companies recently released data showing that access to...
When the credit card bill becomes active, students, specifically college students, are going to find that getting a credit card will no longer be as easy as it is right now. That's because the credit card bill will be regulating how credit card companies market their products to the under-21 market.
The legislation is grounded on findings that, among credit cardholders, college students are one of the most burdened with credit debt. So much so that, by the time that they graduate, they are...
Judging by the clamor for the credit card bill and the general jubilation among credit cardholders and their supporters when President Barack Obama signed it this May, it could not have come at a more timely fashion.
The credit card bill is a very important and much needed piece of legislation for credit cardholders. Already burdened with the economic recession and the employment crisis, credit cardholders were staggering under the weight of rising interest rates and fees that credit card...
It seems that the credit card debt crisis is spawning a variety of innovative scam artists. One of the latest are the so-called Robocalls that questionable companies are making to catch unwary credit cardholders looking for a quick fix to their debts.
The Better Business Bureau has been alerted and is monitoring the practices of these robocalls. Robocalls are actually just telemarketers who are cashing in on the current panic over credit card debt.
The call usually starts with an...
Consumers heaved a sigh of relief when, last May, President Barack Obama signed into law the credit card bill which was fast tracked through Congress and released also this May. Consumers are seeing the credit card bill as a great equalizer which will give them better control over their credit and curtail the unfair and abusive practices of credit card companies.
However, credit industry insiders are warning that the credit card bill may not be as consumer friendly as it sounds.
For the...
iPhone find one more reason to enjoy their smart phones with iPhone credit card processing.
CellCharge, specialists in enabling cellphones for credit card processing, offers iPhone owners the most convenient way to process credit card transactions for merchants. The service is a great way for small businesses to add credit card transactions to their payment options without having to invest a large amount. They can also process payments anytime and anywhere, as long as they have their iPhone...
Among credit cardholders and within the credit card industry, the current buzz is the credit card bill and what it will mean for each and everyone of them.
The credit cardholders are hoping that the legislation in the bill will give them a better arrangement for paying off their debts and keeping their credit. The credit card industry is dreading the cut in profits that the credit card bill will bring.
With the credit card bill in place, predatory practices by credit card companies will...
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 credit card bill was signed before Memorial Day just a few days ago and already, it is getting hit by criticisms left and right. Credit card industry supporters are saying that the bill ultimately cuts off credit from people when they need it the most. Credit cardholder advocates are calling the legislation weak.
The credit card bill is essentially a legislation that came out directly from the credit cardholders themselves. The complaints of credit cardholders got loud enough that...
Signed a few days before Memorial Day, the credit card bill provides wide ranging legislation to curb the rampant “profit-is-the-bottom-line” practice of credit card companies. Among the many areas the credit card bill will touch is the debt laden, below 21-year old credit cardholders. This particular population of credit cardholders is largely composed of college students.
Credit card debt problem among college students is well known within the credit industry and its observers. A...
The recent passage of the credit card bill from Congress was cause for celebration for credit cardholders, though the legislation itself won't become active until nine months have passed. Now, the government is looking into other credit card practices that seem unfair to consumers and how best to legislate them.
Currently, the Government Accountability Office is studying credit card usage among American consumers. They are interested in one particular practice and its effect on merchants and...