Posted On:
January 11, 2009
Credit Card Companies - New Rules To Help Consumers
Credit Card Companies - New Rules
For years the credit card companies have implemented RULES when the credit card agreement was signed that were onerous at best. With the economy failing the Board of Governors has changed the playing filed to help the consumers and the changes are significant.
More time to make your payment
Paying off higher interest rate balance first
Prohibit increased rates for that would be deemed penalty rates
Two cycle billing for balances
Firm offers of credit
These are significant changes but they do not take effect until 2010
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