Thursday, February 25

Creative Fees

With the new laws surrounding the credit card industry, you'd kind of get the feeling that, finally, we "the consumer" have some real protections against the credit card issuers. It certainly seems this way; all the media attention and information notices from the credit card folks. But, as is often the case, things aren't always as they seem.

Sure, the new legislation offers many new protections against abusive credit card practices, like raising the interest rate on existing balances, but you must still be wary! There are other things that your credit card issuer can do to aggravate you, like increase your minimum monthly payments.

The new credit card laws will force credit card issuers to become much more creative in the way that they make their money; this means yet to be heard of fees imposed upon us. Can you imagine what they'll think of next?

Click Here to learn more about the new credit card laws from the Federal Reserve.