Credit Card Issuers Introduce New Fees

This will no doubt come as no surprise to you, but a great many banks and credit card issuers are either raising existing fees or introducing new ones to their cardholders. The whole purpose of the new fees is to offset the rising number of the delinquencies and charge-offs that the credit card industry is [...]

$200 Billion Consumer Credit Loans On The Way

The Federal Reserve Board, in conjunction with the Treasury Department, has announced that a new $200 billion dollar consumer credit stimulus plan will go into affect on March 25th. The program, which has been dubbed the Term Asset Backed Securities Loan Facility, is designed to once again make credit available to consumers and small business [...]

Know Your Rights As A Credit Card Holder

While Congress works on the newly proposed “credit card bill of rights“, I felt it was important that I share with you exactly what your rights as a credit card customer entail. After all, it will probably be months before Congress draws up this new bill. Many cardholders have expressed everything from minor frustration to [...]

Annual Percentage Rates, Periodic Rates and Variable Rates Explained

The annual percentage rate (APR) on your credit card account determines how much the credit that has been extended to you will cost over the course of a year if the balance is not paid in full before the end of the grace period. Annual percentage rate, when looked at from another perspective, will tell [...]

New Credit Card Regulations Go Into Affect In July 2010

After receiving more than 65,000 complaints on its web site, the Federal Reserve Board has taken unprecedented steps to reign in credit card issuers. The U.S. government is finally acting in the best interest of the consumer by passing sweeping regulations that are designed to root out the unfair practices that have long been the [...]