How many of you have opened your credit card bills to some nasty surprises in the last year; surprise interest rate increases and nasty lower credit limits – even for those who pay on time?

Last week, President Obama signed the Credit Card Accountability Responsibility and Disclosure Act of 2009 (CCARD) also known as the Credit Cardholder’s Bill of Rights that’s been called “sweeping legislation that reforms the credit card industry” and a homerun for consumers. Is it? Let’s see…

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Question: Cindy, I have over the past few years been rolling over funds from one 0% credit card to the next. I now have one for $8K expiring in a few months and have not seen any offers come in for low interest rate credit cards. What do you recommend? My credit score is very good, around 750 last time I checked and I am not in a position to pay it off. BTW, …

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The other day I got a call from “Mastercard and Visa” offering to lower my interest rates. “Yippee,” I thought.
But, I was immediately on guard because I know that Mastercard and Visa are separate companies and I didn’t think they’d be working together. Not that I know this for sure, but that’s what came up for me.
The guy told me that a lot of people are cancelling their credit cards …

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Question: I am contemplating using a convenience check from my credit card company instead of taking out a personal loan from my credit union. The convenience checks carry a 3.99% interest rate for the life of the loan. However, a personal loan from my credit union would carry a 10.25% interest rate for the life of the loan which can be no longer than 5 years.
I am thinking about …

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Question: Can I stop all those credit card offers I receive in the mail? ~ Ron
Answer: Yes. It’s really easy to do – just phone 1-888-567-8688 and follow the prompts and provide the requested information including Social Security number, date of birth, etc.
Do this for every adult member of your household, including college students. Your “opt-out” status will be sent to each of the four credit bureaus (Equifax, …