Credit Card Companies came before Senate subcommittee hearing to show us that they are accountable to us for their practices which have resulted in massive credit card debt to Americans. Are you feeling the relief yet of your credit card debt? It may be that this chest beating on the part of the Credit Card Industry CEO is all we will get. After all they know that if they let some time pass they can get back to business as usual....which is to make it easier to run up Credit Card Debt.

More on the subject:
Credit-card practices come under scrutiny website link.

By Eileen Ambrose | Sun Reporter
It's amazing what a little congressional attention can do.

Even before the recent Senate subcommittee hearing that explored credit-card industry behavior, two major card issuers announced they were abandoning practices long criticized by consumer advocates.

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Congressional scrutiny may be pushing some major banks into changing their credit card practices, but there’s still plenty for consumers to watch out for.

Advocacy groups such as the Consumer Federation of America, Consumers Union, and the Better Business Bureau have been pushing for action and warning for years about the difficulty in understanding extra fees and charges.

“What we need is better – not more – disclosure,” said Travis Plunkett, legislative director of the Consumer Federation. “Consumers need user-friendly information on important fees and interest rates, including fees and terms that currently aren’t disclosed at all.”

He said some practices need to be stopped, such as two-cycle billing, which charges interest on credit-card debt already repaid by the consumer. For example, a cardholder who paid $200 June 15, leaving a balance of $25, would receive a July bill charging interest on $225 for half of June.

Click this link for the article: http://www.timesreporter.com/index.php?ID=65185
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Consumer Groups Launch Debt Campaign
Forbes - NY,USA
"Two decades of ... deregulation have allowed banks, credit card companies, mortgage companies, auto financiers and other lenders to make their own rules ...
See all stories on this topic  .... http://www.forbes.com/feeds/ap/2007/03/06/ap3491126.html

 

When a house is more than a house
Ridgecrest Daily Independent - Ridgecrest,CA,USA
When the Tax Reform Act of 1986 phased out income tax deductions for interest paid on auto loans, personal loans, and credit card debt, many consumers ...
See all stories on this topic   ....http://www.ridgecrestca.com/articles/2007/03/06/news/columnists/colo02.txt 

 

Do you know the right way to switch over a credit card?
Credit Cards GB - Glasgow,Lanarkshire,UK
So that is how you properly change over your credit card. Make sure that you follow this procedure otherwise you could end up in more debt than you started ...
See all stories on this topic  ....http://www.creditcards-gb.co.uk/credit_card_news/032007/do-you-know-the-right-way-to-switch-over-a-credit-card.html 

 

Credit Card Debt - Education key to reducing debt
Business Portal 24 (press release) - Bad Lausick,Sachseri,Germany
Levels of credit card debt in Western nations have continued to break new records in recent months with a typical Australian credit hard holder carrying ...
See all stories on this topic http://www.businessportal24.com/en/Credit_Card_Debt_Education_142933.html

 

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