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 [...]
Credit Card Rate Report
Annual percentage rates for new credit card offers dipped lower this week, according to the CreditCards.com Weekly Credit Card Rate Report. Banks tweaked some offer rates this week, while minutes from the Federal Reserve’s August meeting suggest its next change to monetary policy will take interest rates higher. Of the nine credit card categories tracked by [...]
New credit card rules could affect you
Proposals by federal bank regulators would zap questionable credit card practices. But while consumer advocates say the proposals are good first steps to rein in abusive tactics, card issuers bristle they will drive up costs and make credit less available. John Ulzheimer, president of consumer education for credit.com, a credit education and financial services Web [...]