New Credit Card Regulations in 2010
On February 2010 the Credit Card Accountability Responsibility and Disclosure (C.A.R.D.) Act of 2009 will be going into effect. This is to protect consumers from abusive credit card practices which helped put our economy into its current state.
So what does this mean for you? The new credit card provisions (link below) on consumer-action.org will give you [...]
American Express and Chase reporting lower delinquencies and charge-offs
Credit Card Delinquinicies
In a regulatory filing Wednesday, American Express reported that delinquencies on credit cards were down to 4.4 percent compared to 4.7 percent in May and 4.9 percent in April.
Capital One reported similar figures, stating its delinquency rates improved for a fourth straight month, falling to 4.77 percent from 4.9 percent in May.
Investors were [...]
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With our weak economy, more and [...]
Is Your Credit Card Really Secure?
Making Safe Credit Card Purchases
We’ve all been told that shopping with a credit card is the safest way to make purchases. It makes sense; when you use a credit card, you do not provide any details of your bank account to the merchant, plus you are not liable for unauthorized transactions. Unfortunately, when [...]
The Credit Card Accountability Responsibility and Disclosure Act of 2009
Credit Card Debt for Young Consumers
New credit card law allows parents to control credit issued to their children
One section of the new credit card law is aimed at keeping young people out of debt. Parents now have greater power over the credit given to their children.
The Credit Card Accountability, Responsibility and Disclosure [...]