As of Sunday January 27th, it could cost you more to pay retailers with a credit card as a new…
Tag: credit card fee
For women, it may be the latest pair of beautiful shoes. For guys, it may be a box of favorite cigars. Either way, the “buy now pay later mentality” that most Americans have means pulling out the plastic and worrying about how they are going to pay for the purchases later. When you learn how much that pair of shoes or box of cigars truly costs you if you don’t pay off your credit card bill in full at the end of the month, you may no longer think that purchase was worth it.
Yesterday, the Quizzle Wire reported that credit card companies are finding ways to get around some new laws passed to protect consumers from unfair credit card practices. These alternative routes were put in place to counteract congressional moves like the CARD Act, which gives consumers protection against unexpected interest rate increases, over-limit fees and major changes to credit card terms, and a new bill passed in the House of Representatives today that will overhaul the nation’s financial regulatory system.
New credit card rules are limiting how credit card companies have traditionally earned their bread, forcing them to come up with new ways to charge consumers. Find out what fees and charges you can expect with your credit card and learn what your rights are.
The Federal Reserve Board announced Tuesday a new rule to protect credit card users from unfair fees. The rule caps credit card late fees at $25. Many credit card companies have been charging upwards of $39.