Sunday, December 20, 2009

New Credit Card Rules Take Effect Soon

new credit card rules
Credit card rules are changing, and many of the credit card companies have been making new rules and terms of service to adjust to the regulations passed by Congress last year.

Many of the new regulations take effect in February 2010, and will be to your benefit. For example, the credit card companies will be required to let the user opt out of an over limit charge to keep the credit card within the pre-set limit.

Don't play around like a puppy. Know where to find the new rules and use them to your advantage.

Much of what we are seeing recently is a lowering of the limits and an increase in the minimum payment. The credit card companies are required to give 45 days notice on any changes to rates, so you can possibly pay off the card or change companies. Any rate increase much have an option to cancel that is not a default. The companies can freeze a limit at the current rate, but you do not have to accept continuing rate increases from the credit card companies.

We have written an article on how to find the new credit card rules
with links and details to help you get a grip on your credit cards for the new year.

Here is the URL to copy and paste in case the link does not work for you.

http://www.ehow.com/how_5322975_new-credit-card-rules.html

This is new legislation enacted to help the American consumer. Take advantage of it by knowing your options.

Happy Holidays!

Linda
cajunC

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