Understanding and Improving Your Credit
Information to help you improve your credit
No Credit? Bad Credit? Trying to rebuild?
Today, more people than ever before are suffering with the problems caused by "bad credit". Even people who 2 years ago had perfect credit have seen their credit scores drop dramatically due to the recession and the mortgage crash. On this blog we will provide information for people who are ready to repair their credit and improve their credit score.
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President Barack Obama signed the New Credit Card Law on May 22, 2009. The first batch of changes already took effect on August 2009 while the rest will take effect on February 22, 2010. Below are the highlights that you’ll be glad to know:
Controlled Interest Rate Hike. Increased rates are still allowed but only on these three conditions:
- The promotional rate has expired
- The Variable Index Rate has increased
- The cardholder has been delinquent for 60 days or more
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