rate-increases

Bottom Lines: Credit card act hasn’t stopped rates from rising (Press of Atlantic City)

Much has been written about the benefits of the Credit Card Responsibility and Disclosure Act, and it is significant: 45-day notice of rate increases, and they cannot apply the increases to existing balances, for example.

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Bottom Lines: Credit card act hasn’t stopped rates from rising (Press of Atlantic City)

rate-increases

Fed Proposes Limits On Credit Card Penalties (WGAL 8 Susquehanna Valley)

The Federal Reserve proposes strict limits on penalty fees and other charges that credit card companies can slap on customers for missteps such as late payments or going over credit limits.

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Fed Proposes Limits On Credit Card Penalties (WGAL 8 Susquehanna Valley)

rate-increases

Credit card debt ‘rising’ (Channel 4)

The Government has warned about the threat of the country’s rising credit card debt. Lord Faulkner of Worcester, for the Government, said that the latest Bank of England figures showed that in January people owed a total of £61.5bn to credit card companies.

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Credit card debt ‘rising’ (Channel 4)

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When paying off your credit card, be sure to account for residual interest (The Star-Ledger)

Q. I paid off my credit card balance by the due date and then I got a bill the next month stating I owed more money.

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When paying off your credit card, be sure to account for residual interest (The Star-Ledger)

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Fed looks at credit card rate hikes (Chicago Sun-Times)

The U.S. Federal Reserve is asking credit card companies to review interest rate increases every six months, and to reduce them if the reason for the higher rate has changed.Card issuers may have to reduce rates if triggers for rate changes, such as credit risk or market conditions, have improved. Rate reviews will begin six months after the provision, which is part of credit card legislation …

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Fed looks at credit card rate hikes (Chicago Sun-Times)

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Law to Make Credit Card Statements Easier to Understand (FOX 8 WGHP)

Some of the fine print on credit card statements is about to get much larger.

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Law to Make Credit Card Statements Easier to Understand (FOX 8 WGHP)

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Credit card companies will have to play by different rules (WHAS TV11 Louisville)

(WHAS11)-Starting Monday, credit card companies will have to play by some different rules, but experts say you should still be on the lookout. The card act was signed into law last May to protect American card holders.  It will eliminate practices like “double billing cycles”, random interest rate increases and stiff fees for exceeding your credit limit.

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Credit card companies will have to play by different rules (WHAS TV11 Louisville)

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Fed rule protects credit card holders (Worcester Telegram & Gazette)

The U.S. Federal Reserve approved a rule that will protect credit card holders from abrupt interest rate increases and require consent before charging fees for transactions that exceed credit limits.

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Fed rule protects credit card holders (Worcester Telegram & Gazette)

rate-increases

Fed adopts protections for credit card customers (Richmond Times-Dispatch)

Credit card companies will be barred from increasing interest rates on cards during the first year after an account is opened.

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Fed adopts protections for credit card customers (Richmond Times-Dispatch)

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Fed Issues New Credit-Card Protections (BusinessWeek)

The new rule will protect credit-card holders from abrupt interest rate increases and require consent before charging fees for transactions that exceed credit limits

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Fed Issues New Credit-Card Protections (BusinessWeek)

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