Credit Card Horror
It might seem the topic doesn’t have much to do with us or with you in that matter. But we are all victims of credit card companies and their tactics. So today we want to briefly share some info on this subject. It is my intent always to brighten up your day with my posts and enlighten your printing information experience but at the same time I feel the need to warn you in case you didn’t know already of what is happening with your credit cards and your credit score.
Unfortunately the news are not recent, last December, the Federal Reserve Board enacted new rules and regulations for credit card companies. One of those rules forbids creditors from raising interest rates on already borrowed money. I know that’s good news. That will be the ideal, especially while we survive the economic turmoil. You would think, “Wow the Federal Reserve is looking out for peoples well being” WRONG!! The new rules don’t go into effect until July of 2010.
That means that right now when most of us are experiencing hardships, and if not so much at least we are concerned for the future and for people we know that are suffering the consequences of lack of responsibility and clarity in financial issues. A recent survey made by the Federal Reserve 45 percent of U.S. banks reduced credit limits for new credit and that in turn increases interest rates, and payments, and that also affects other payments because your insurance premium gets higher when your credit score lowers. The snowball effect is horrible.
To perk this up and not only throw bad news and not include some kind of action to stop it, click on the following link and tell Congress that there is no time to waste, act now!
More info
Unfortunately the news are not recent, last December, the Federal Reserve Board enacted new rules and regulations for credit card companies. One of those rules forbids creditors from raising interest rates on already borrowed money. I know that’s good news. That will be the ideal, especially while we survive the economic turmoil. You would think, “Wow the Federal Reserve is looking out for peoples well being” WRONG!! The new rules don’t go into effect until July of 2010.
That means that right now when most of us are experiencing hardships, and if not so much at least we are concerned for the future and for people we know that are suffering the consequences of lack of responsibility and clarity in financial issues. A recent survey made by the Federal Reserve 45 percent of U.S. banks reduced credit limits for new credit and that in turn increases interest rates, and payments, and that also affects other payments because your insurance premium gets higher when your credit score lowers. The snowball effect is horrible.
To perk this up and not only throw bad news and not include some kind of action to stop it, click on the following link and tell Congress that there is no time to waste, act now!
More info
Posted by Karla Arostegui - Content Mgr. at 3/18/2009 1:21 PM 
Categories: Ink and Toner Cartridges:Printing Tips and Crafts
Tags: credit card
Categories: Ink and Toner Cartridges:Printing Tips and Crafts
Tags: credit card
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