First Name
Last Name
Email
 

Maxed Out: Hard Times in the age of Easy Credit

The Last Chance Millionaire: It's Not Too Late to Become Wealthy

The New Mortgage Investment Advisor: Structuring Your Mortgage to Work as a Financial Planning Tool

Credit Card Nation: The Consequences of America's Addiction to Credit

 


New Credit Card rules that will take effect July 1, 2010
Article Published by Robert Weinberg on Monday, March 9th, 2009

Finally some sensible credit card rules have been passed to go into effect as of July 1, 2010.   According to Demos a pubic policy research organization

1. Prohibit banks from retroactively increasing the interest rate their customers must pay on existing balances.

2. Prohibit banks from allocating payments to lower-rate balances first to maximize finance charges

3. Ban the practice of “double-cycle billing” which calculates interest over more than one month, and can result in higher finances charges

4. Eliminate upfront fees on so-called fee harvesting credit cards when they eat up the majority of the available balance on the cards

5. Require banks to provide consumers a reasonable amount of time to make payments.

We’ll see how the implementation of these rules actually play out with the sneaky credit card companies.  Undoubtably, it is defenintely a step in the right direction!



The strategies your banks & credit card companies don't want you finding out about.
- Strategies for lowering credit card interest rates
- New Proposal to Help Homeowners Refinance…But Will It Ever Get Off The Ground?
- Talking Finances with Your Valentine
- Fed Promises Low Rates until 2014
- How is Your Credit Score Determined?
- 2012 Identity Theft Trend Predictions
- Credit Card Interest Rates Hit Record Highs As Companies Market Themselves More Aggressively
- Top Reasons People Fail when Repairing their Own Credit
- Holiday Spending Doesn’t Have to be a New Year’s Problem
- How to Save on Last-Minute Holiday Shopping







 
"My husband Michael & I have been married for six years. We're both professionals and have no children as of yet, although we treat our dog Max as one of the family. Like many young couples we've fallen into the "buy it now, pay for it later" mentality." June & Michael DeAngelo
 

 

Which of the following is giving you the most financial headaches?

View Results

Loading ... Loading ...
 

Who you trust in helping you eliminate your debt is an important decision. Since 2003, Robert Weinberg has helped hundreds of homeowners achieve their financial goals by teaching them advanced strategies for melting down debt, creating wealth, and preserving credit (more)