Credit Cardholders' Bill of Rights

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Replied by Meya on topic Re: Credit Cardholders' Bill of Rights

I think it was valuable info also.:white-flag:
10 years 10 months ago #1

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Replied by KMoney on topic Re: Credit Cardholders' Bill of Rights

Thanks for posting this article mousepad. I think it is very important in these dark and hard times to become extremely savvy and not get caught with the too many cards and high utilizations. What we want to avoid to the utmost is being caught back between a rock and a hard place with debt. I know for a fact that for those of us who have been there, this is a place we wish to never return too.
10 years 10 months ago #2

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Replied by GKCUST on topic Re: Credit Cardholders' Bill of Rights

:popcorn: THANKS UR MESSAGE IS A SIGHT FOR MY SORE EYES:laugh:
10 years 10 months ago #3

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Replied by relidtm on topic Re: Credit Cardholders' Bill of Rights

THANKS 4 ALL THAT INFO
BUT I JUST WENT CROSS EYED AND BLIND TRYING TO READ ALL THAT
SO IS IT POSSIBLE 4 U 2 BREAK THAT DOWN IN LAMEMAN TERMS

i agree :P

but on the link he posted it said
You've got to love the banking industry.

As our friends in the financial sector were passing the hat among taxpayers last week for $700 billion in bailouts to cover their crappy mortgage investments, they were simultaneously condemning the House of Representatives' passage of a "Credit Cardholders' Bill of Rights," which aims to crack down on some of the industry's more troublesome practices.

The legislation -- HR 5244 -- would, among other things, end card issuers' self-proclaimed right to change interest rates at any time. Instead, a 45-day notice would be required for any increase.

It also would give cardholders more time to pay by requiring issuers to mail bills at least 25 days before the due date, as opposed to the current 14 days.

Similar measures are being considered by the Federal Reserve, the National Assn. of Credit Unions and the Office of Thrift Supervision. But they wouldn't carry the force of law and could be weakened by more industry-friendly regulators down the road.
10 years 10 months ago #4

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Replied by GKCUST on topic Re: Credit Cardholders' Bill of Rights

THANKS 4 ALL THAT INFO
BUT I JUST WENT CROSS EYED AND BLIND TRYING TO READ ALL THAT
SO IS IT POSSIBLE 4 U 2 BREAK THAT DOWN IN LAMEMAN TERMS :confused:
10 years 10 months ago #5

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was created by mousepad

People this is a must read
there are new credit card laws and its good for card holders but its about to get very hard to get new cards.

here is the story http://www.latimes.com/business/la-fi-lazarus28-2008sep28,0,3890727.column?track=rss

and here is the new laws http://thomas.loc.gov/home/gpoxmlc110/h5244_eh.xml
10 years 10 months ago #6

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