New Credit Card Act (CARD Act) and Credit in 2010
For consumers, 2009 will always be known as the year of the ‘credit crunch’. One of the biggest things consumers will remember is how poorly their credit card companies treated them. Almost everyone received letters in the mail about their credit limits decreasing, interest rates rising, and the like. Of course, this abusive behavior led to the passage of the Credit Card Responsibility, Accountability and Disclosure Act of 2009, or CARD Act for short. Here’s a brief summary of what this Act does for cardholders, among others… Credit card companies cannot increase interest rates...
read more
