homeselling: What The New Credit Laws Mean To You...
- 02/17/10 12:37 AM
The Future of Plastic: 5 Credit Trends for 2010 The CARDAct goes into effect on Feb. 22 and with it come stronger consumer protections. Banks will no longer be able to raise interest rates during the first 12 months after opening an account -- or hike rates on pre-existing balances altogether. Credit-card payments, if exceeding the minimum, will be allocated to the higher-rate balances first. Monthly statements will become easier to understand and the ability to issue creditcards to college students will be severely restricted. But these new safeguards will come at a price. Although cardissuers focused last year on making … (2 comments)
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