Written by Greg Smith on 6/29/2009 12:00:00 AM
The passage of the Credit Card Accountability, Responsibility and Disclosure (CARD) Act in May has prompted credit card industry representatives to make public statements that the changes will have a negative impact on consumers in the long run.
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Written by Greg Smith on 5/19/2009 12:00:00 AM
Recently I sat down with the host of "Pennsylvania Newsmakers," Dr. G. Terry Madonna, to talk about the credit card industry and some of their anti-consumer practices. For the past 20-some years, I’ve watched the industry take advantage of consumers, and although there are now regulations that will put an end to things like double-cycle billing and universal default, they really can’t come soon enough.
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Written by Greg Smith on 3/20/2009 12:00:00 AM
In my last post, I encouraged readers to pay attention to the mail they receive from the credit card issuers. Those envelopes could include important information about rate and/or fee changes. I also promised some tips about how to comparison shop for cards, so here they are...
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Written by Greg Smith on 3/13/2009 12:00:00 AM
A MoneyChat-ter wrote in recently about some actions taken by her non-PSECU credit card company. The writer explains she was given the choice between making a higher minimum payment than expected or sending in a lower minimum payment at a higher rate. The writer ends with a comment that the whole thing is probably legal but feels it was “unethical.”
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