The first of two credit card reforms went into effect earlier this week. The other reform will not be effective until July 2010. Together, the new laws should provide considerable help to you and other consumers by eliminating some of the worst practices of the credit card companies. The new laws will make the following changes: First, the credit card company [...]
credit cards
Can I keep one of my credit cards when I file for bankruptcy? A common question heard by bankruptcy attorneys and a common temptation. And understandable! In today’s world, it is almost impossible to rent a car or reserve a hotel room without a credit card.
Now that you’ve read the 11 Mistakes to make on a Credit Card (Parts One and Two), you should know that Congress has tried to rein in these practices. With the crisis in credit, focus has fallen on the credit card companies and the abuse they perpetrate on the consumer. The legislation prohibits or limit a number [...]
Kids don’t have credit, do they? Studies have shown that 32% of high school seniors use a credit card and 3 out of 5 college freshmen max out their credit cards within the first year. College students receive an average of 8 credit cards offers within their first week of school. Universities lose more student [...]
More mistakes to make on your credit card accounts. If you haven’t read Part One, go on back. Foreign Charges You’ve bought something on credit while on vacation in another country. In addition to the exchange rate on the date that the cahrge hits your account, creditors can add 1% to 3% (of the purchase) [...]
Everyone has a credit card, but how good are you at avoiding the pitfalls that accompany nearly every credit card? Follow these eleven traps that can hit any credit card holder: 0% Teaser rates Yes, it’s 0% for six months. But if you don’t pay the balance off in full by the end of the [...]
