March 9 2011|07.00 AM UTC

Samantha Eckles

The CARD Act

Category: Credit, Featured, SRTags: , ,


For millions of consumers, credit debt is a burden, as is dealing with credit companies. From rate hikes to hidden fees creditors have historically been in control. In 2009, President Obama signed the CARD Act, which established regulations for companies charging consumers.

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Interchange fees: What you should know

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{ 3 comments… read them below or add one }

Randy Merrill March 9, 2011 at 8:39 am

FYI, the very last section shows 2006 twice under the card ownership.

Reply

Alex Gutow March 11, 2011 at 11:40 am

Thanks for the catch! It should be all updated now to show 2010.

Reply

Chris Taylor March 10, 2011 at 1:15 pm

NO KIDDING the rates did not go up THEY ALREADY RAISED THEM HIGHER IN ADVANCE SINCE THE SCUMBAGS GAVE THEM A FREAKING YEAR TO SCREW US.

I got this wonderful letter from Discover Card. We have decided NOT to proactively increase your interest rate before the card act takes effect. Aren’t we nice

ITS ALREADY AT 28% YOU FILTHY SCUM SUCKING CRIMINALS!!!!!!!!!!!!!!!!!!!!!!!!

not raising the interest rate on EXISTING DEBT should have been a freaking no brainer from day 1.

I would ALREADY BE DEBT FREE if this is how it was done from the start. paying off $4500 at 9% is a heck of a lot easier than at 32%

when I asked them why they raised my interest rate (good credit not one single bad mark) their answer was “because we can”

so when I stopped paying and they asked why I said “because I can”

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