Dodd Calls for an Immediate Freeze on Credit Card Interest Rates

If you carry a balance on your credit card from one billing cycle to the next then there may be some good news coming your way. It looks as if the chairman of the Senate Banking Committee, Chris Dodd, one of the chief architects of the newly minted credit card reform act, is ready to [...]

Credit Card Issuers Raise Rates

You’ll get no mercy from the credit card companies. As part of a continuing trend credit card issuers are raising interest rates on cardholders in spite of the fact that the Federal Reserve is purposely keeping the prime rate low in an attempt to stimulate the economy. Usually, and granted this is an exceptionally poor [...]

Credit Card Companies Could Be Hurting Themselves with Interest Rate Increases

This certainly is an ironic twist but I can’t help but wondering if credit card companies are raising the interest rates on cardholders are actually hurting themselves in the process. It sounds like a bit of an oxymoron, I know. After all, raising interest rates will mean more revenue for the credit card issuers, won’t [...]

Credit Card Issuers Hike Interest Rates Before New Reform Laws Can Take Affect

Credit card reform legislation that was signed into law in May of 2009 by President Obama was designed to stop the predatory practices that credit card companies have used to make billions of dollars from cardholders over the years. Chief among these practices was raising interest rates to astounding levels that exceeded 29% without any [...]

How to Deal with Sudden Credit Card Interest Rate Increases

If you are one of the millions of Americans who have recently seen your credit card interest rates increase sharply then you can at least take comfort in the fact that you are not alone. Not much solace I know, but that’s all I have to go with right now. The major credit card issuers [...]