Credit Card Companies Fight To Stay One Step Ahead of Consumers

Credit Card Companies Fight To Stay One Step Ahead of Consumers: "On Feb. 22, 2010, the Credit Card Accountability, Responsibility, and Disclosure Act of 2009 slapped regulations on the credit card industry that, since its inception, placed dubious practices onto consumers. The Act limits many of the more disreputable practices that card companies had become known for, such as arbitrarily raising interest rates without notice and charging large fees for exceeding a credit limit. Yet, even before the regulations came into effect, creditors found ways to trip up consumers while still falling within the new guidelines. After all, the CARD Act ensured much of their revenue would be lost, so companies had to think up new ways to earn money besides their typical interest rates. Now consumers have a whole new set of traps to look out for if they want to keep using their credit cards." ... (Click on title link above to read how credit card companies manipulate regulations to take unfair advantage of consumers.) ...