August 18, 2009
What's in your wallet?
Has your credit card issuer increased your interest rate?
Has your minimum payment hit the roof?
In May President Obama signed into law the ‘credit card reform act’; it goes into effect this Thursday and will be fully implemented in early 2010. What does that mean to credit card holders? In a nutshell, beginning day after tomorrow, cardholders can reject interest rate increases and will have up to 5 yrs to pay off existing credit card balances at the card holders current rate. Another new ‘rule’ will stop the issuers of credit cards from doubling minimum payments.
Need a friendlier credit card? Visit www.cardratings.com to find a comprehensive list of credit cards featured by category.
Visit this site for more information.
Posted by:
Kay Korbel
Tagged With:
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and kay korbel
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