"Direct mail offers are flowing for business credit cards, many with attractive promotional interest rates and balance transfer deals...while there are many reasons to open an account, there can be substantial risks involved."More info
On February 22, 2010, major new consumer protections took effect as part of the second implementation phase of the Credit Card Accountability, Responsibility, and Disclosure (CARD) Act of 2009. Just two practices addressed in this second phase will save American consumers at least $10 billion a year.
In this issue brief, the Pew Health Group's Safe Credit Cards Project looks ahead to the third and final phase of the Credit CARD Act, to take effect August 22, 2010, which will require all credit card penalties to be “reasonable and proportional” and will direct card issuers to review all interest rate increases since the beginning of 2009.
Download the full PDF for more information.
- Date added:
- Feb 22, 2010
- Safe Credit Cards Project
This fact sheet focuses on the lessons learned from consumers who purchase and use prepaid debit cards.More info
"Something is wrong when keeping cash in the kitchen cookie jar seems a reasonable substitute for your bank.''More info
"It was early 2007, and Michael Roster and Dwane Krumme each viewed the credit card industry with growing dismay."More info
''More small companies—already struggling with weak sales and tight lending—are being forced to rely on business credit cards to provide working capital.''More info