Is the Credit CARD Act Hurting Credit Scores?

http://www.cambridge-credit.org -- In an effort to address arbitrary credit rate increases and excessive fees within the credit card industry, the Credit Card Accountability Responsibility and Disclosure Act of 2009 became law in May. While some of the provisions are scheduled to take effect in February 2010, a few measures have already begun. The Acts changes pose challenges for credit card companies, who are naturally looking to maximize their profitability. In response, many card issuers have begun phasing out fixed interest rates, while others are simply raising rates for a larger percentage of their customers than they would ordinarily. Watch this week's webisode from Cambridge Credit Counseling Corp. to learn more. Host: Community Outreach Director, Thomas J. Fox.

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Nonprofits & Activism

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• CARD Act

[blkcolas]

This happened in Mexico (48% interest) and the citizens refused to pay another nickel. In USA, you have got to remain stealth as far as job, bank, and assets location, because this what they can attach/garnish, so they'll sue. Stealth, they don't have anything to attach/garnish. Doesn't take an idiot to figure that out.