CARD act

What Looks Like Junk…..

June 28, 2010

With the banking crisis and the recession looming large, the past year has brought a halt to many of the banks most egregious practices. Excessive fees for overdraft protection (paying $35.00 more for a $5.00 mistake) and the way that lenders could raise interest rates in what seemed to be an arbitrary manner have been [...]

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Read Every Notice

June 22, 2010

(And….Climb every mountain, ford every stream….oops, sorry, I digress) With the CARD act securely in place you may believe that you are immune to rate increases on your credit cards. Nope. Not the case. The CARD act only states that you will be given “notice” of at least 45 days prior to a rate increase [...]

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A CARD Anniversary

June 2, 2010

The Credit Card Accountability, Responsibility and Disclosure Act or the CARD Act is now 1 year old. While the most sweeping changes of the law did not go into effect until February 22, 2010 the law itself went into effect in May 2009. More changes according to the law will go into effect later on [...]

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Flaws In The CARD Act

April 22, 2010

One of the lesser-known or talked about changes of the CARD act of 2009 is that credit card applicants under age 21 are now required to have enough income to support the credit card or have an adult act as a co-signer on the account. However, a problem arises because there is no standard income [...]

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New Warnings For Credit Card Consumers

March 1, 2010

The new regulations of the Credit Card Act of 2009 went into effect on February 22, 2010. Many of the new regulations will have a positive effect on consumers as credit card issuers will now have to conform to stiffer regulations regarding such things as raising interest rates on e Tweet

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