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New Credit Card Rules coming in July 2010

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Forum Againstum
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Age : Join date : 2009-01-01 Posts : 4 Location :

PostSubject: New Credit Card Rules coming in July 2010   Tue Jan 06, 2009 5:24 am

New laws passed on credit card companies coming in 2010.

1. They can't raise the APR on balances already owed....finally...I always thought that was crap.
2. They must give a written 45 day notice when they are going to raise your APR.
3. They can't do 'Universal default' This means that they can't penalize you and raise your APR on all cards when you only defaulted on one of your cards.

Supposedly this all started around 2007, and they are waiting till 2010...That just might be when the world is coming to an end. They make 10 - 15 billion dollars just on these penalties.
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Eddie Haskell
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Age : Join date : 2008-12-01 Posts : 128 Location : AZ

PostSubject: Re: New Credit Card Rules coming in July 2010   Tue Jan 06, 2009 5:42 am

Why cant they make this a LAW NOW not a year and a half from now? Drive me crazy why they wait to make the laws like this one in our favor active. Dont get me wrong I am no fan of new laws.
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New Credit Card Rules coming in July 2010

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