Credit Card Rates Rise Again

NEW YORK (CNNMoney.com) — The nation’s banks raised credit card rates and increased their profit from lending to consumers in the first half of 2009, according to a consumer advocacy group.
The Pew Safe Credit Cards Project said Monday the median lowest advertised credit card rate rose to 11.99% in July from 9.99% in December. At [...]

Trial of iPhone Credit Card Processing App

iPhone users’ wait for ProcessAway — an application that can turn their mobile devices into handheld credit card terminals — just got a little shorter.
ProcessAway’s developers announced on Feb. 17 they will offer a free trial version of the program on their Web site, as Apple has not yet approved the software. By temporarily bypassing [...]

Chris Dodd Bill to Speed Reforms for 2010

The Federal Reserve last year adopted new credit card rules that ban practices often cited as unfair to consumers, such as raising the interest rate on an existing credit card balance when the consumer is paying the credit card bill on time.
However, those rules don’t go into effect until mid-2010, prompting Sen. Chris Dodd (D-CT), [...]

Maintain the Best Rates and Credit Scores

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Slashing Credit Card Spending Limits

How You Can Avoid a Nasty Surprise From Your Credit Card Issuer?
As they trudge their way through this year’s holiday season, some shoppers will be in for a surprise when they haul out their credit card.  Many credit card companies are lowering the credit limits this holiday season. Without even warning their customers, some credit [...]

Lowering the Credit-Card Limits

It’s not just your portfolio that may be shrinking during these turbulent times. The spending limit on your credit card may be heading south as well.
Credit-card issuers have been decreasing credit limits in the wake of the subprime meltdown. Folks with good credit scores and solid credit histories are now getting caught in the fray.
“Most [...]

Credit Card Rules Must Change

If you want an idea of how angry consumers are at credit card companies, get a load of the complaints e-mailed to the Federal Reserve about efforts to prohibit unfair practices by credit card companies. “I have been the victim of credit card companies who have subjectively raised my interest rates,” said Jon C. Kubic [...]

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