CONSUMERS HAVE NEW RIGHTS

CHANGES IN LAW IMPACT CREDIT CARDS

Consumer Reports offers a good summary of the new rules that should help consumers with their Credit Card debt.  Consumer Affairs explains how the changes affect you with detail on new rules.

The rules will force credit companies to explain how long the monthly payments will take to clear your balance, and that's a real eye opener!  It makes clear that credit cards are in fact a terrible deal for consumers, and we need to be extremely careful with them.  The 'industry' is built to milk money from you and the recent law makes major, but not complete changes.  At least your payment goes to the highest interest rate now, whereas before it went to the lowest!  Now that's a mean trick, don't you think?  Credit cards are just loan sharks in plastic!  Before you end up in over your head, understand how bad they treat you!