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Released: August 24, 2010
New credit card rules can help, but don’t get complacent
Source: Sandra Block, USA Today
In the past, making a late credit card payment was like forgetting your mother’s birthday. Repairing the damage could take months. Sometimes, years.
Now, though, the repercussions of a tardy credit card payment may not be as long-lasting or severe. Federal rules that took effect Aug. 22 limit the amount of late fees banks can charge. The rules also make it more difficult for banks to permanently raise your interest rate if you make a late payment.
Read Full Article: New credit card rules can help, but don’t get complacent
Tags/Keywords
credit cards, credit, debt, headlines, responsibility and disclosure card act, credit card accountability, new credit card rules
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