Credit Card Outrage
October 7, 2009
By Angie Moreschi:
Credit card companies are jacking up interest rates and increasing minimum monthly payments in a last ditch effort to shake down consumers before a new law takes effect, which will force them to stop abusive practices. Click here to learn more and watch the video above.
This report by CNN’s Jessica Yellin is an eyeopening example of just how far banks are going to squeeze customers. Chase Bank more than doubled a family’s minimum monthly payment on their credit card. When the consumer called to complain, they offered to increase his interest rate by 5% instead.
A new law that gives credit card customers more protection takes effect in February of 2010, but clearly banks are trying to rake customers while they still can. Two members of Congress, Representative Barney Frank (D-Massachusettes) and Representative Carolyn Maloney (D-New York), are pushing a new bill to get the date that law would take effect moved up to December 1st. Click here to write your Congressman in support.
Banding Together and Fighting Back!
Get your Mortgage Crisis message to your State Attorneys General Office. Read more »CWN Contact Form
Want to contact one of our columnists, or send a message to the CWN staff? Click here »Add the CWN RSS Feed to your News Reader
Recalls and Product Safety News- No Specific Cause Found Yet Linking Dry Max Diapers to Diaper Rash
- Toshiba Recalls T Series Notebook Computers Due to Burn Hazard
- Swing Sets Recalled by Kompan Inc. for Repair Due to Fall Hazard
- CPSC Makes Recall Data Available Electronically to Businesses, 3rd Party Developers
- 32-Inch Sharp LCD-TVs Recalled Due to Risk of Injury
- Slow Cookers Recalled by Sensio Due to Fire Hazard; Sold Exclusively at Kohl's Department Stores
- 79.9% Interest on Credit Card – Say it Ain’t So!
- Credit Card Companies Cut Unfair Fee
- New Way To Hide Outrageous Credit Card Interest Rates
- Chase Hits Cardholders with New Fee and Rates
- Credit Card Companies Cash in on YOU! Common Mistakes to Avoid
- Profiled By Your Credit Card Company?
- Banks say Thank You: Loan Shark Rates on Credit Cards
- Push for Limits On Credit Card Marketing to Students
