http://www.newhorizon.org/credit-info/how-the-new-credit-card-law-can-help-you/ Information to help you improve your credit Fri, 13 Jan 2012 21:51:41 +0000 hourly 1 http://wordpress.org/?v= http://www.newhorizon.org/credit-info/how-the-new-credit-card-law-can-help-you/comment-page-1/#comment-294 BaileyA Wed, 17 Feb 2010 03:18:56 +0000 #comment-294 I agree that there are many ways how this new credit card act will help us.There are many ways on how these new act will be beneficial to all.It will actually gives fairness and equality to every one.We just need to know how are we going to do use it properly.Everyone should be aware of what they are and aren't entitled to under the Credit CARD Act, and credit card companies won't go out of their way to tell you until they've been sued a few times for non-compliance.(That's the way a lot of businesses work – laws are ignored until they get caught.)For instance, you can't have any rates raised on you or limits cut without 45 days notice at least. They also can't change terms of the original contract. There have been a lot of accusations of predatory lending over the last few years, some at mortgage companies, or at payday loans lenders, though credit card companies could be construed as the most predatory of all. I agree that there are many ways how this new credit card act will help us.There are many ways on how these new act will be beneficial to all.It will actually gives fairness and equality to every one.We just need to know how are we going to do use it properly.Everyone should be aware of what they are and aren’t entitled to under the Credit CARD Act, and credit card companies won’t go out of their way to tell you until they’ve been sued a few times for non-compliance.(That’s the way a lot of businesses work – laws are ignored until they get caught.)For instance, you can’t have any rates raised on you or limits cut without 45 days notice at least. They also can’t change terms of the original contract. There have been a lot of accusations of predatory lending over the last few years, some at mortgage companies, or at payday loans lenders, though credit card companies could be construed as the most predatory of all.

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