Comments on: Are Credit Cardholders Finally Getting A Break?

By: Carolina D.

Carolina D. — Sun, 31 May 2009 21:41:21 +0000

Thank you for the info Cindy,

For as long as I now, so far they go crazy with their rates for no reason, you right!

I’ll try to get advantage of the points now – sure enough they will be taking that away as well WITHOUT notice!

Make it the best day!
Carolina D.

By: Cindy Morus

Cindy Morus — Sun, 31 May 2009 00:46:57 +0000

Thanks to Robert D. Flach at The Wandering Tax Pro (http://wanderingtaxpro.blogspot.com/) for sharing this with his readers along with a lot of other great tax information.

By: Cindy Morus

Cindy Morus — Wed, 27 May 2009 23:16:26 +0000

I think we’ll be seeing more and more interest rate increases, Katherine. About 20 years ago, most cards were at 18% and then they started all these teaser rates. I think we’ll see higher overall rates.

And no, they won’t have to lower them after 6 months of on-time payment. Whatever your rate is on the day the law takes effect will be the one that they would lower to.

Of course, we can always hope there will be some new banks come around that will offer low rates again!

Cindy

By: Katherine Reschke

Katherine Reschke — Wed, 27 May 2009 18:19:00 +0000

Wihout any late payments and no change in my credit score I have started seeing interest hikes on a couple of my cards that were low interest before. Annoying! Will they have to offer me the original rate once this law goes into effect in 9 months if I have been paying on time all the time?