Tag Archives: credit cards
YMM2: The Most Effective Way to Reduce Your Debt (April 1, 2008)
Listen now: [Audio clip: view full post to listen] Download the episode. Host: Nancy Anderson, CFP® Guest: Linda Robertson, CFP® In this episode we looked at a plan for paying off your credit card debts by finding some extra money to pay more than the minimum monthly payment to your credit card with the highest [...]
Two examples of why financial literacy may be even more important now
These two articles about the aftermath of the recently enacted credit card rules demonstrate the shortcomings and unintended consequences of financial regulation and the need for financial literacy. The first article shows how credit card companies are instituting new fees to replace the ones that are now illegal and finding clever ways to trick borrowers [...]
Legislators to Cap Credit Card Interest Rates
New legislation was introduced yesterday that aims to put a cap on the fees ($15) and interest rates (16%) that credit card companies can charge their customers. Of course there’s going to be a lot of resistance from credit card companies, but is this really what we need? Wouldn’t an informed consumer be better able [...]
Congress Considering: Congress to Speed up Credit Card Law
Both consumers and credit card customers scratched their heads over the timing of the Credit Card Reform Act – it doesn’t kick in until February 2010. Why the delay? Nobody seems to know for sure. Now, Congress is revisiting the issue – and is exploring the notion of triggering the new law in December. Read [...]
Woman Takes on Credit Card Company
Ann Minch is mad as hell and she’s not going to take it anymore. Like many, she has seen the interest rate on her credit card jacked up (in her case, to 30%), even though she made all the payments on time, wasn’t over her limit and didn’t in any way violate Bank of America’s [...]
