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Articles from Treena Almasi | Selfgrowth.com
- Action and Reaction on Credit Card Rates and Fees - by Submitted on Dec 29, 2011 from Treena AlmasiThe Obama Administration has made several announcements detailing the purview of the Consumer Financial Protection Agency, a new agency which would regulate the credit card and mortgage industries. The President recently sent the guidelines, which would regulate the fees, terms, and interest ...
Views: 764 - Banks aren’t tightening in one Area - by Submitted on Dec 29, 2011 from Treena AlmasiDue to losses in banking activities across the board, and in credit cards specifically, banks have been tightening lending standards, lowering credit limits, and raising fees wherever they can. Other factors for credit card issuers are the enactment of The Credit Card Accountability, ...
Views: 785 - Banks Start Tapping Their Best Clients - by Submitted on Dec 29, 2011 from Treena AlmasiBack before the implosion of subprime mortgages poked a hole in the real estate bubble, credit card holders with impeccable accounts and high credit scores either cruised along with fixed rates on balances or no interest charges at all if they paid off their balances monthly. That is all about ...
Views: 735 - Card Holder’s Bill of Rights Passes House Vote - by Submitted on Dec 29, 2011 from Treena AlmasiReacting to the massive outcry from credit card holders across the country, The House of Representatives passed The Card Holder’s Bill of Rights which prohibits the types of sudden interest rate hikes and exorbitant fees commonly charged by credit card companies. The bill passed in a landslide ...
Views: 769 - The Brave New World of Credit Cards - by Submitted on Dec 29, 2011 from Treena AlmasiAs credit card holders’ struggles with payments on credit cards continue to increase the environment looks like it will only get tougher, particularly those with infractions and/or low credit scores. Due to increased losses from chargeoffs, companies are moving away from fixed rates, raising ...
Views: 784 - The Choice between Bankruptcy and Debt Settlement - by Submitted on Dec 29, 2011 from Treena AlmasiAs credit card issuers continue to raise fees, interest rates and payment requirements a growing number of struggling card holders are being force to consider options for debt relief. For many, the choice can come down to two options; bankruptcy and debt settlement. Each has advantages depending ...
Views: 1025 - The Credit CARD Act Opens for Business - by Submitted on Dec 29, 2011 from Treena AlmasiStarting this week the first phase of the Credit Card Accountability, Responsibility and Disclosure Act (The Credit CARD Act) goes into effect, requiring issuers give card holders 45 days' notice prior to raising their interest rate or making other material changes to other terms in the card’s ...
Views: 721 - They Warned US (and the Fed’s Aren’t Coming to Rescue) - by Submitted on Dec 29, 2011 from Treena AlmasiAfter lobbying aggressively against its passage credit card issuers gave two warnings about the Credit Card Accountability, Responsibility and Disclosure Act of 2009; that interest rates on their cards would have to increase and that the availability of credit would diminish. On May 22, 2009, ...
Views: 666 - Time to Read the Small Print Coming from Your Credit Card Company - by Submitted on Dec 29, 2011 from Treena AlmasiStarting August 20th one of the main provisions in the bill President Obama signed in May goes into effect. While most provisions in the Credit Card Accountability, Responsibility and Disclosure Act don't take effect until next year, the advance notice requirement is part of the first phase of ...
Views: 711 - Who is the Credit CARD Act Trying to Help? - by Submitted on Dec 29, 2011 from Treena AlmasiA new survey by the New York-based nonprofit research and advocacy group Demos shows that before the mortgage meltdown got into its full swing and the economy went deep into recession, Americans in low and middle income brackets were using their credit cards to cover basic living expenses, ...
Views: 688 - Three Ways to Mess up Your Debt Settlement - by Submitted on Dec 29, 2011 from Treena AlmasiDebt ratios for consumers across the country are at historic highs in terms of debt versus income, as a percentage of the Gross Domestic Product, and as a result, a record number of consumers are seeking debt relief in the form of debt settlement, debt consolidation, debt counseling, and ...
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