risk-or-market

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)

risk-or-market

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)

risk-or-market

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)

risk-or-market

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)