Do any credit card companies penalize you if you have zero balance on your card and haven't used it for a few months?
No. When the Credit CARD Act rode a wave of anti-bank sentiment into the law books, federal rulemakers used the Act's broad guidelines to ban a handful of industry practices that often penalized consumers for simple mistakes. Although the Federal Reserve Board banned inactivity fees for credit cards in August 2010, you're not off the [...]
Does the Credit CARD Act apply to business credit cards?
The Credit Card Accountability, Responsibility and Disclosure Act, commonly known as the CARD Act, only applies to credit cards issued to consumers and does not impose new laws concerning business credit cards.
The whole point of credit card reform was to level the playing field for consumers and make sure they weren't subjected to unfair practices [...]
I have an excellent record for payments on all my cards, but I'm paying as high as 29 percent interest. How can I lower the rate?
Lots of factors could contribute to your relatively high finance charge, ranging from the relationship you've got with your bank to the way you manage your balances.
In the wake of the Credit CARD Act's passage, consumers wondered what happened to the "protections" lawmakers promised them. After all, hiking the minimum payments and bumping interest rates [...]
Can you enter household income where it says annual income on a credit card application?
Question: Can you enter household income where it says annual income on a credit card application?
Answer: Yes, as long as you apply before October 1, 2011. Thanks (or maybe no thanks) to the rules instituted by the Credit CARD Act of 2009, when you apply for a credit card, the card issuer is required to [...]