Overdraft Protection is a scam you should avoid
If you have a debit card you may get a letter in the mail telling you that you are no longer protected from overdrafts unless you tell the bank that you want to sign up …
New credit card rules offer some protection
However, they do not limit interest or charges.
New rules took effect February 22nd, and more are coming in August. They limit the ability of credit card issuers to raise interest rates on existing balances and …
New credit card rules offer good news and bad news.
Rules take effect on Feb 22nd, 2010. Read your mail!
The single biggest benefit of the much-touted new rules for credit cards — prohibiting credit card companies from raising interest rates on existing balances — has …
Credit card regulation only partially effective thanks to loopholes and lag time
Congress recently passed what one expert called a “Set of discrete new laws” to regulate the credit card industry (see our blog entry on Credit Card Rates Going Up for details, but as the …
Credit card arbitration soon to be history?
The shenanigans of one of the leading credit card arbitration companies have embarrassed the credit card issuers and looks as if it will cause most of them to cancel arbitration contracts.
Credit card issuers started setting …
Bank might make you ask for a higher credit card interest rate
We had an interesting email from a reader of this BLOG whose bank was making it necessary for them to ask for a higher interest rate. This may seem impossible, but here’s how they did …
Credit Card Interest Rates: A Survey
Credit card interest rates and other factors rated by JD Power’s latest consumer survey:
You can get full ratings directly from JD Power’s Credit Card Satisfaction Survey, but here are the banks that got …
Credit cards for college students harder under new law
As of February, 2010, banks will be restricted in their ability to issue credit cards to people under 21 who do not have “independent means” of paying the bills. That leaves many college students in …
Credit card interest rates going up as new rules start to restrict actions by credit card issuers
Average credit card interest rates rose to 14.43% in May according to the Federal Reserve as credit card issuers get ready for the new rules from, the Credit Card Act of 2009 taking effect starting …
Credit card problems not solved with arbitration
For a while now most credit card companies have inserted a mandatory arbitration clause into their contracts. This is to force their customers to settle credit card problems with arbitration and prevent them from suing. …