Sunday, May 24, 2009
Wednesday, May 20, 2009
Credit Card Reform
Highlights:
* Bills can be paid online or over the phone without incurring a processing fee.
* Customers must be over 60 days late on payments before their interest rate can be raised on balances; if the rate is raised, it will go back to the lower rate if customers make the minimum payment on time for six months in a row.
* Overlimit fees can't be charged unless cardholders are told that the purchase will put them over their limit and they authorize it to go through anyway.
* If your card has more than one interest rate on balances, then payments must be applied to the highest interest rate first.
* Bills can be paid online or over the phone without incurring a processing fee.
* Customers must be over 60 days late on payments before their interest rate can be raised on balances; if the rate is raised, it will go back to the lower rate if customers make the minimum payment on time for six months in a row.
* Overlimit fees can't be charged unless cardholders are told that the purchase will put them over their limit and they authorize it to go through anyway.
* If your card has more than one interest rate on balances, then payments must be applied to the highest interest rate first.
Monday, May 18, 2009
Sunday, May 17, 2009
Tuesday, May 12, 2009
Monday, May 11, 2009
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