Credit Card Reform tag:www.creditcardreform.org,2010://34 2009-03-24T13:15:28Z Movable Type 3.2 Bank credit card fees keep going up, USA Today tag:www.creditcardreform.org,2009://34.9821 2009-03-24T13:13:34Z 2009-03-24T13:15:28Z In recent months, many issuers have raised interest rates for borrowers even as the Federal Reserve has cut rates. They're doing so ahead of a federal regulation that takes effect next year, curtailing their ability to raise rates on existing... Kathy Mitchell In recent months, many issuers have raised interest rates for borrowers even as the Federal Reserve has cut rates. They're doing so ahead of a federal regulation that takes effect next year, curtailing their ability to raise rates on existing credit card debt, says Bill Hardekopf, CEO of LowCards.com.

]]> The reason behind Capital One's rate increase, US News & World Report tag:www.creditcardreform.org,2009://34.9820 2009-03-24T13:11:32Z 2009-03-24T13:12:35Z Last month, Capital One raised some eyebrows by significantly increasing their rates on new customers on the majority of their credit cards. The advertised annual percentage rate on these 15 cards increased from an average of 12.45 percent to 17.24... Kathy Mitchell Last month, Capital One raised some eyebrows by significantly increasing their rates on new customers on the majority of their credit cards. The advertised annual percentage rate on these 15 cards increased from an average of 12.45 percent to 17.24 percent. One could ask, "What's left in your wallet?"

]]> How to lower your credit card interest rate, MSNBC tag:www.creditcardreform.org,2009://34.9819 2009-03-24T13:09:39Z 2009-03-24T13:10:57Z If you have a credit card, you might be getting a letter in the mail with some bad news: your credit card company is jacking up your interest rate. Never mind if you've been an excellent customer, whose always paid... Kathy Mitchell If you have a credit card, you might be getting a letter in the mail with some bad news: your credit card company is jacking up your interest rate. Never mind if you've been an excellent customer, whose always paid your bills on time. Some of the biggest credit card companies, including Capital One, Citibank, and HSBC, are now raising rates on millions of customers.

]]> Credit card firms continue to raise interest rates and fees, Credit.com tag:www.creditcardreform.org,2009://34.9818 2009-03-24T13:07:43Z 2009-03-24T13:09:33Z Has the interest rate on your credit card gone up recently? If so, you're not alone. In the past several months, a number of credit card companies have instituted changes to customers' accounts, increasing rates and tacking on fees.... Kathy Mitchell Has the interest rate on your credit card gone up recently? If so, you're not alone. In the past several months, a number of credit card companies have instituted changes to customers' accounts, increasing rates and tacking on fees.

]]> House of Cards, New Yorker tag:www.creditcardreform.org,2009://34.9817 2009-03-24T13:05:27Z 2009-03-24T13:07:17Z These tactics are not going to improve the credit-card industry’s dismal reputation. They’re also not going to help an economy in recession, since reduced credit lines take away an important cushion for consumer spending, and higher interest rates and increased... Kathy Mitchell These tactics are not going to improve the credit-card industry’s dismal reputation. They’re also not going to help an economy in recession, since reduced credit lines take away an important cushion for consumer spending, and higher interest rates and increased fees are likely to drive more people to default.

]]> American Express, Chase cut card limits lowering credit scores, Bloomberg tag:www.creditcardreform.org,2009://34.9816 2009-03-24T13:03:36Z 2009-03-24T13:05:07Z About 45 percent of U.S. banks reduced credit limits for new or existing credit-card customers in the fourth quarter of 2008, according to a Federal Reserve January survey of senior loan officers. Financial institutions may slash $2 trillion in credit-... Kathy Mitchell About 45 percent of U.S. banks reduced credit limits for new or existing credit-card customers in the fourth quarter of 2008, according to a Federal Reserve January survey of senior loan officers. Financial institutions may slash $2 trillion in credit- card lines in the next 18 months, Meredith Whitney, a former Oppenheimer & Co. analyst, wrote in a Nov. 30 report.

]]> Buy something, or else! Wall Street Journal tag:www.creditcardreform.org,2009://34.9815 2009-03-24T13:00:42Z 2009-03-24T13:02:42Z One of the biggest causes of the financial crisis was that Americans were borrowing (and spending) more money than they could afford to pay back. So how are credit-card issuers reacting to consumers' attempts to live a more financially responsible... Kathy Mitchell One of the biggest causes of the financial crisis was that Americans were borrowing (and spending) more money than they could afford to pay back. So how are credit-card issuers reacting to consumers' attempts to live a more financially responsible lifestyle? They're threatening to cut their credit cards off if they don't spend enough.

]]> Fewer cards, higher rates, lower limits Miami Herald tag:www.creditcardreform.org,2009://34.9814 2009-03-24T12:56:53Z 2009-03-24T13:03:18Z Credit card users across the country find themselves in similar situations: Their interest rates are rising, their credit limits are shrinking, new fees are cropping up, the time to pay their bills is decreasing -- or their cards have been... Kathy Mitchell Credit card users across the country find themselves in similar situations: Their interest rates are rising, their credit limits are shrinking, new fees are cropping up, the time to pay their bills is decreasing -- or their cards have been cut off altogether.

]]> American Express' $300 Deal Shows Industry Trend, NPR tag:www.creditcardreform.org,2009://34.9573 2009-02-27T01:41:41Z 2009-02-27T01:45:22Z American Express announced Monday it's offering $300 payments to a limited number of cardholders who agree to close their accounts. The company said the incentive will help reduce the risk of future defaults.... Amanda Frayer American Express announced Monday it's offering $300 payments to a limited number of cardholders who agree to close their accounts. The company said the incentive will help reduce the risk of future defaults.

]]> The credit card rate increase is in the mail, PBS tag:www.creditcardreform.org,2009://34.9519 2009-02-24T05:07:16Z 2009-02-24T05:08:17Z Credit card companies have begun telling customers their interest rates are going up sharply, even on balances already owed. As Stephanie Dhue reports, a consumer's credit score could be the reason or there may be no reason at all.... Kathy Mitchell Credit card companies have begun telling customers their interest rates are going up sharply, even on balances already owed. As Stephanie Dhue reports, a consumer's credit score could be the reason or there may be no reason at all.

]]> Average card rates at 14%, Credit Card Monitor tag:www.creditcardreform.org,2009://34.9518 2009-02-24T04:59:53Z 2009-02-24T05:06:36Z Kathy Mitchell Punctual payers face higher rates, Bloomberg tag:www.creditcardreform.org,2009://34.9517 2009-02-24T04:58:01Z 2009-02-24T04:59:08Z Mel Brandt said he got a Citibank Home Depot MasterCard for its rewards program. His reward for paying on time was an interest rate increase to 19 percent from 12 percent.... Kathy Mitchell Mel Brandt said he got a Citibank Home Depot MasterCard for its rewards program. His reward for paying on time was an interest rate increase to 19 percent from 12 percent.

]]> Dodd says credit card companies gouging consumers, Bloomberg tag:www.creditcardreform.org,2009://34.9516 2009-02-24T04:55:44Z 2009-02-24T04:57:12Z U.S. Senate Banking Committee Chairman Christopher Dodd proposed new limits on fees and charges for consumer credit cards, saying an era of lax regulation had lead to “gouging” of U.S. consumers.... Kathy Mitchell U.S. Senate Banking Committee Chairman Christopher Dodd proposed new limits on fees and charges for consumer credit cards, saying an era of lax regulation had lead to “gouging” of U.S. consumers.

]]> Credit card reform gets another look, USA Today tag:www.creditcardreform.org,2009://34.9515 2009-02-24T04:54:09Z 2009-02-24T04:55:07Z As credit card fee increases squeeze more consumers, lawmakers are stepping up efforts to reform criticized practices.... Kathy Mitchell As credit card fee increases squeeze more consumers, lawmakers are stepping up efforts to reform criticized practices.

]]> Beware rising credit card rates, Ledger-Enquirer tag:www.creditcardreform.org,2009://34.9514 2009-02-24T04:42:00Z 2009-02-24T04:52:42Z McLean, Va.-based Capital One recently sent out notices to customers both in the United States and in the United Kingdom that their rates are being ratcheted higher — tripling in some cases.... Kathy Mitchell McLean, Va.-based Capital One recently sent out notices to customers both in the United States and in the United Kingdom that their rates are being ratcheted higher — tripling in some cases.

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