Watch Your Credit Card Statements
24 November 2009
One Comment
The credit card companies are having a field day as we move closer to Credit Card Accountability, Responsibility and Disclosure Act, set to take effect on February 22, 2010. There are reports of rate increases and increased minimum monthly payments. One of the provisions of the Act would be to stop banks from increasing fixed interest rates on existing balances unless you are two months late in paying your bill.
Sen. Christopher Dodd’s Bill looked to fast track a freeze increased interest rates on existing balances was blocked by the Republicans.
Watch your statements this holiday and always!
Watch your credit card statements! http://ow.ly/Fb6W
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