Credit Cards Blog

Monday, July 26, 2010 9:48 am
By Leslie McFadden · Bankrate.com

A provision in the new financial reform law will allow consumers turned down for credit or offered less favorable terms because of their credit report or score to get a free credit score disclosure with their adverse action notice. An overlapping set of federal regulations that were finalized last year will likely broaden access to

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Thursday, July 22, 2010 4:36 pm
By Leslie McFadden · Bankrate.com

A new report released today by the Pew Health Group’s Safe Credit Cards Project shows the impact the Credit Card Accountability, Responsibility and Disclosure Act (CARD) Act of 2009 has had on the credit card marketplace. “The CARD Act accomplished its goal, and that was to make the credit card market a more transparent and fair place

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Monday, July 19, 2010 2:11 pm
By Leslie McFadden · Bankrate.com

Today Bankrate released the results of our first-ever survey of debit card rewards programs. The 40 programs available through larger banks and credit unions varied in terms of restrictions and payout, but most offer fee-free rewards with no cap on the amount you can earn. Signature-based transactions generate more interchange revenue for the card issuer

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Thursday, July 15, 2010 1:59 pm
By Leslie McFadden · Bankrate.com

The Senate voted to move forward with the Dodd-Frank Wall Street Reform and Consumer Protection Act, 60-38, and will likely begin a final vote around 2 p.m. today. Bankrate will be rolling out a series of articles detailing what the legislation means for you. On the credit side, the act would require companies that deny

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Monday, July 12, 2010 2:54 pm
By Leslie McFadden · Bankrate.com

The Credit CARD Act of 2009, which rolled out its biggest batch of rules in February 2010, eliminated a number of anticonsumer practices used by credit card issuers, such as “any time, any reason” rate increases on existing debt. Among the many provisions in the legislation is a requirement that promotional rates on credit cards

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Thursday, July 8, 2010 2:13 pm
By Leslie McFadden · Bankrate.com

This week I made use of a credit card perk probably few people know of or use: purchase protection coverage. What happened: My earbud headphones, which I use daily while walking in the city, broke two days ago and needed replacing. I headed straight to an electronics store and bought a new pair on my Blue

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Thursday, July 1, 2010 11:42 am
By Leslie McFadden · Bankrate.com

New credit card disclosure rules for solicitations, agreements and periodic billing statements take effect today as part of reforms approved by the Federal Reserve Board in December 2008. According to Nessa Feddis, VP and senior counsel for regulatory compliance at the American Bankers Association, an industry trade group, these are some of the key changes:

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Monday, June 28, 2010 3:01 pm
By Leslie McFadden · Bankrate.com

Today I’m answering three credit card questions that landed in my column inbox. My wife had a credit card with a retail store. She listed me as an authorized user. I was not aware of this. She let this card go and it got charged off. (It was only $250. If she had told me about it,

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Friday, June 25, 2010 3:44 pm
By Leslie McFadden · Bankrate.com

This morning a House-Senate panel in charge of merging two financial reform bills into a final version reached an agreement. Both chambers of Congress still have to approve the compromise legislation, dubbed the Dodd-Frank Act after its main authors, Sen. Chris Dodd and Rep. Barney Frank, before it can go to President Barack Obama for

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Thursday, June 24, 2010 2:33 pm
By Leslie McFadden · Bankrate.com

On Monday, I wrote about 5 smart credit moves to make now. Today’s post is all about what not to do. The following tips sound smart, but can backfire if followed with abandon. 1. Asking for a lower rate on your credit card. Starting Aug. 22, 2010, new rules will require issuers to review interest

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