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New Credit Card Law

Best Cards: Now that President Barack Obama has signed a federal law to protect millions of consumers who rely on credit cards, we're in a new era of managing credit. The new law contains the most far-reaching changes to the credit card industry in decades. What will the credit card law mean for cardholders? The new normal Credit cards will be more transparent and easier to understand for everyday Americans. Credit cards will become more costly for all users, say issuers and industry analysts, and inaccessible for low-income families. Look for the return of routine annual fees, fewe...

Card Expert on January 20, 2010 0

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Credit Cards Help You Save

Best Cards: Every little bit helps. Except when it doesn't. A number of financial institutions offer reward cards that promise to help you boost your net worth by contributing to your savings accounts, your retirement plans, your college funds or even your mortgage. Each of these cards, however, has traps for the unwary that could undo most or all of the benefits they promise. You should read the fine print of each offer, note how rewards are accrued and refrain from carrying balances; otherwise, any benefit you get from the savings-reward program will be more than wiped out by interest costs. Fu...

Card Expert on January 20, 2010 0

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Is your credit card issuer unfair?

Card Insider: Federal regulators use these guidelines to determine whether card companies are following the law or employing deceptive or unfair practices. Ever wonder whether a credit card issuer's offer to you or treatment of your account is, in a legal sense, unfair or deceptive? If it is, your lender could get a civil penalty ranging from $11,000 to more than $1 million per violation, per day. Whether you get reimbursed and by how much depends upon the regulator involved and state and federal rules. The Federal Deposit Insurance Corp. has detailed how to detect unfair or deceptive cred...

Card Expert on November 12, 2009 0

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Your Guide to Credit Cards

Best Cards: This article comes from MSN Money. Use a credit card wisely and you can collect benefits like cash back, bonus points and airline miles, not to mention a better credit score. Use it unwisely and you could end up in a great debt. The No. 1 rule: Pay off your balance every month. Otherwise, you'll pay interest on your purchases. Paying the balance takes discipline. About 40% of households carry credit card debt, according to the Federal Reserve. And although the Credit Card Accountability, Responsibility and Disclosure Act makes significant strides for consumers, it will likely ...

CreditCardsGuru on October 27, 2009 0

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Weekly Credit Card Rate Report

Best Cards: The national average annual percentage rate on new credit card offers was unchanged this week at 12.17 percent, according to the CreditCards.com Weekly Credit Card Rate report, though banks continue to cautiously experiment in reaction to new credit card legislation. The national average credit card APR is comprised of 95 of the most popular credit cards in the country, including cards from dozens of leading U.S. issuers and representing every card category listed below. (Introductory, or teaser, rates are not included in the calculation.) The averages in nine card categories were unchanged...