Maybe This Is the Hope We’ve been Waiting For
Today, the last part of federal legislation concerning credit card interest rates and fees went into effect. One item that has me more excited than Christmas morning is what credit card companies can do about your interest rate. If they raise your interest rates, they now have to tell you why they did so. Hopefully, their reasoning will be better than ‘our CEO has a new Lamborghini payment to make.” But here’s the best part – if they raise your rate, the credit card company has to reevaluate that increase every six months. If you deserve to have it lowered, then they must do so within 45 days of that evaluation! Gone are those good old days when you got raked over the financial coals for no reason other than greed…. at least, I hope so.
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All the interests of my reason, speculative as well as practical, combine in the three following questions: 1. What can I know? 2. What ought I to do? 3. What may I hope?
that’s a good news..bit of sad news..credit cards become so complicated with today’s advances..