Credit Cards Blog

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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Monday, June 21, 2010 3:57 pm
By Leslie McFadden · Bankrate.com

For the past few posts, I’ve been writing about legislative moves that affect debit and credit cards. It’s time for a few credit management tips you can implement right now. Except for tip No. 4, all of the following moves won’t cost a dime. 1. Review your rewards points. Yes, some credit cards with rewards

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Friday, June 18, 2010 9:24 am
By Leslie McFadden · Bankrate.com

On Tuesday, I wrote about the rules approved by the Federal Reserve Board that will restrict credit card penalty fees beginning on Aug. 22, 2010. Yesterday I interviewed Nick Bourke, director of the Pew Safe Credit Cards Project, for a little more insight on what the rules mean for consumers. “We ought to see most

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Tuesday, June 15, 2010 3:47 pm
By Leslie McFadden · Bankrate.com

Today the Federal Reserve Board issued a final rule on credit card penalty fees. The Credit Card Accountability, Responsibility and Disclosure Act of 2009, or Credit CARD Act, directed the Fed to set standards for penalty fees and charges that are “reasonable and proportional” to the violation. The restrictions on credit card fees take effect

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Monday, June 14, 2010 12:32 pm
By Leslie McFadden · Bankrate.com

On Friday, Assistant Senate Majority Leader Dick Durbin, D-Ill., fired off a letter to the CEOs of the Independent Community Bankers of America, or ICBA, and the Credit Union Nation Association, or CUNA, countering their arguments against reform of interchange fees for debit card transactions. According to the Senator’s website, his amendment, which the Senate

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