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CNN Newsroom: CNN: New credit card rules explained

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Uploaded by on Jul 4, 2010

Financial analyst Clyde Anderson explains new credit card rules meant to cut down on abusive practices.

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  • So I have a $2500 balance and they now cut my limit to $2000, so now I'm over my limit and have to pay a $25 penalty.

  • Here is a suggestion people, do not use credit cards, or credit. Save up the money, or do not buy it. People need to learn there lesson.

  • Credit cards are overrated. I'm canceling mine. The fewer the bills the better.

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