The past few weeks I've gotten about 1/2 dozen disclosures on this new law. Then today I got my first NEW CREDIT CARD BILL SINCE THIS LAW HAS TAKEN EFFECT!  My balance is somewhere around $750 and the minimum payment is $15.00. The new law requires that bank to tell you how long and how much you will pay if you market only the minimum payment. My term is EIGHT YEARS by making only the minimum. Then is shows you what happens if you pay a some what higher number, the number of months it will take to pay it off and the over all savings you get over making just the minimum

 

 

Take a look at your next statement! What do you think about these new rules for credit cards?

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9 Comments on THE NEW CREDIT CARD RULES TAKE EFFECT TODAY!

FEB
22
2010
133,596 Points 3 Featured Posts Attended Rain Camp

Joe, hopefully it will also tell you how much ( in total dollars) you will pay over those eight years. That way, consumers without a calculator can see...WOW, that $750 will actually cost me $1440 !!
7:27pm • #1
312,871 Points 3 Featured Posts

Wow, that's something we should have in Canada. Scary thought on how long it would take you to pay off your card.

Wishing you continued success.
7:27pm • #2
104,294 Points 6 Featured Posts

Hi Joe, I think it is best to just pay them off every month.
7:48pm • #3

I had a client with 800 Scores and I asked him how he does it?  He told me that he pays off his cards monthly.  This was a Dishwasher with 813 Middle scores!!!!!!!!  Awsome!!!
11:22pm • #4
FEB
23
2010
864,800 Points 5 Featured Posts Hit Router Called Shot Master

FRank

 

i DO KNOW A FEW WITH 800 SCORES AMAZING!
6:35am • #5
498,310 Points 150 Featured Posts Outside Blog Hit Router Called Shot Master

Joe:  Just received my latest bill ... and there was all this extra information now contained within it.  I think it is a good step to have this info available ... as it will open some eyes and probably cause a few to clutch their chests.  The cold hard truth right before your eyes.  The good part?  It gives you suggestions as to how to move forward with your payments so they have the biggest impact on paying that credit down.  I'm hoping that proves instrumental to consumers and their debt is effected positively because of it.  The more info the better ...

How about that hockey game USA vs Canada on Sunday?  Wow!

Gene
10:19am • #6
864,800 Points 5 Featured Posts Hit Router Called Shot Master

Gene

 

Glad someone else got their bill to view

 

Great Hockey game
1:31pm • #7
815,596 Points 13 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

My biggest challenge with credit cards is trying to cancel predatory venders like E-Neighborhood who keep charging your card months after you've cancelled !!!!!!!!
2:56pm • #8
FEB
27
2010
Called Shot Master

Watch the big banks find the next loophole !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
8:39am • #9


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Joe Jackson

Columbus, OH

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Keller Williams Capital Partners Realty

Address: 100 E Wilson Bridge Rd , suite 100, Worthington, OH, 43085

Office Phone: (614) 888-1000 x 322

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