Consumer Credit Fairness Act

Lenders that seek to charge excessive interest rates have become the target of Democratic Sen. Sheldon Whitehouse of Rhode Island. The new legislation, which was introduced in January, is called the Consumer Credit Fairness Act. Last week Whitehouse told a Senate hearing on credit card practices that the “standard credit card agreement gives the lender [...]

Protect Yourself from Higher Interest Rates

Here is something your credit card company will never tell you: they are using any excuse that they can find to raise your interest rate. Did you realize that if you are late paying any of your bills that are unrelated to your credit card, your credit card issuer can then use that as an [...]

We Support The Credit Cardholders’ Bill of Rights

There is presently legislation pending that will protect credit card account holders from arbitrarily having their interest rates raised. It is called the Credit Cardholders’ Bill of Rights and is co-sponsored by U.S. Representative Anna Eschoo (D – California). Representative Eschoo recently wrote an editorial to her hometown (Silicon Valley) newspaper, the Mercury News where [...]

Chase Raises Fees On Unsuspecting Customers

Here is a tough one to swallow. Chase just announced that they would be raising fees on credit card account holders that locked in fixed low APR terms. It seems as if cardholders that carry a balance and had the foresight to jump on low interest or 0% interest offers with the promise that if [...]

Credit Card Companies Marketing On Campus

Credit card companies have aggressively marketed to students for many years now. But apparently that in your face marketing strategy has reached critical mass at some college campuses. Michigan State University has a deal worked out with Bank of America whereby Bank of America is given a list of MSU students, alumni and season ticket [...]

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 [...]