Comments on: Credit Card Accountability, Responsibility and Disclosure Act of 2009 http://www.visioncredit.org/credit-card-accountability-responsibility-and-disclosure-act-of-2009/ Your Nonprofit Credit Counseling Organization Sat, 04 Feb 2012 20:07:52 +0000 hourly 1 http://wordpress.org/?v=3.1.2 By: irs 1040 http://www.visioncredit.org/credit-card-accountability-responsibility-and-disclosure-act-of-2009/comment-page-1/#comment-41662 irs 1040 Tue, 27 Sep 2011 04:39:19 +0000 http://www.visioncredit.org/?p=1317#comment-41662 <strong>form 8917...</strong> [...]Credit Card Accountability, Responsibility and Disclosure Act of 2009 | Vision Credit Education, Inc.[...]... form 8917…

[...]Credit Card Accountability, Responsibility and Disclosure Act of 2009 | Vision Credit Education, Inc.[...]…

]]> By: Kirk Johnson http://www.visioncredit.org/credit-card-accountability-responsibility-and-disclosure-act-of-2009/comment-page-1/#comment-8096 Kirk Johnson Sat, 05 Sep 2009 02:14:41 +0000 http://www.visioncredit.org/?p=1317#comment-8096 To Joan: It's already happened. Chase did just what you said. They've raised the percentage on my minimum payment from 2% to 5%, and the only "option" they're giving me, is they'll lower my minimum payment back to what it was, (but increase the APR from the 5.49% it has been to 7.99%, with less of the payment going toward balance due, and more toward interest) for one year, and THEN the APR would go up to 22.9%. Barring a miracle, I'll have no choice to default on the account. There's no way I can make that, as I'm barely making it now. I told the rep this, and got silence. Why did this law not go in to effect immediately? All it did was give banks 9 months to screw us all. To Joan: It’s already happened. Chase did just what you said. They’ve raised the percentage on my minimum payment from 2% to 5%, and the only “option” they’re giving me, is they’ll lower my minimum payment back to what it was, (but increase the APR from the 5.49% it has been to 7.99%, with less of the payment going toward balance due, and more toward interest) for one year, and THEN the APR would go up to 22.9%. Barring a miracle, I’ll have no choice to default on the account. There’s no way I can make that, as I’m barely making it now. I told the rep this, and got silence. Why did this law not go in to effect immediately? All it did was give banks 9 months to screw us all.

]]> By: Citi Adding Annual Fee to Some Card Accounts | Vision Credit Education, Inc. http://www.visioncredit.org/credit-card-accountability-responsibility-and-disclosure-act-of-2009/comment-page-1/#comment-7880 Citi Adding Annual Fee to Some Card Accounts | Vision Credit Education, Inc. Mon, 24 Aug 2009 15:15:11 +0000 http://www.visioncredit.org/?p=1317#comment-7880 [...] predicted that card issuers would begin to create new fees to offset restrictions imposed by the Card Act of 2009. Citi becomes the latest to confirm that they will add annual fees to some of their credit card [...] [...] predicted that card issuers would begin to create new fees to offset restrictions imposed by the Card Act of 2009. Citi becomes the latest to confirm that they will add annual fees to some of their credit card [...]

]]> By: Citi Hikes Interest Rates on Sears Cards | Vision Credit Education, Inc. http://www.visioncredit.org/credit-card-accountability-responsibility-and-disclosure-act-of-2009/comment-page-1/#comment-7714 Citi Hikes Interest Rates on Sears Cards | Vision Credit Education, Inc. Tue, 18 Aug 2009 19:43:41 +0000 http://www.visioncredit.org/?p=1317#comment-7714 [...] the CARD Act of 2009 has created a rush by credit card issuers to increase rates on existing balances while they still [...] [...] the CARD Act of 2009 has created a rush by credit card issuers to increase rates on existing balances while they still [...]

]]> By: Jason Bostick http://www.visioncredit.org/credit-card-accountability-responsibility-and-disclosure-act-of-2009/comment-page-1/#comment-7434 Jason Bostick Sun, 09 Aug 2009 17:34:30 +0000 http://www.visioncredit.org/?p=1317#comment-7434 What the act doesn't address is variable rates, which is where Chase and Bank of America are pushing their customers. If these banks succeed at sabatoging our fixed-rate cards (i.e. changing minimum payments from 2% to 5% on promotional rates) and forcing us into variable rates, then we'll be just as unprotected as we were before... What the act doesn’t address is variable rates, which is where Chase and Bank of America are pushing their customers. If these banks succeed at sabatoging our fixed-rate cards (i.e. changing minimum payments from 2% to 5% on promotional rates) and forcing us into variable rates, then we’ll be just as unprotected as we were before…

]]> By: Credit Card Issuers React to Risk-Based Pricing Limits | Vision Credit Education, Inc. http://www.visioncredit.org/credit-card-accountability-responsibility-and-disclosure-act-of-2009/comment-page-1/#comment-7361 Credit Card Issuers React to Risk-Based Pricing Limits | Vision Credit Education, Inc. Thu, 06 Aug 2009 14:27:48 +0000 http://www.visioncredit.org/?p=1317#comment-7361 [...] Credit Card Accountability, Responsibility and Disclosure (CARD) Act of 2009 served to give consumers many protections from abuses of certain credit card issuers. [...] [...] Credit Card Accountability, Responsibility and Disclosure (CARD) Act of 2009 served to give consumers many protections from abuses of certain credit card issuers. [...]

]]> By: What Are the Pitfalls of Accepting a Loan From Family?-Credit and Debt Blog http://www.visioncredit.org/credit-card-accountability-responsibility-and-disclosure-act-of-2009/comment-page-1/#comment-7302 What Are the Pitfalls of Accepting a Loan From Family?-Credit and Debt Blog Tue, 04 Aug 2009 18:35:06 +0000 http://www.visioncredit.org/?p=1317#comment-7302 [...] applied to the lowest interest portion of the balance first. This practice has been outlawed by the Credit Card Accountability, Responsibility and Disclosure (CARD) Act of 2009, which as an effective date of February [...] [...] applied to the lowest interest portion of the balance first. This practice has been outlawed by the Credit Card Accountability, Responsibility and Disclosure (CARD) Act of 2009, which as an effective date of February [...]

]]> By: Chase Increases Balance Transfer Fee to 5% | Vision Credit Education, Inc. http://www.visioncredit.org/credit-card-accountability-responsibility-and-disclosure-act-of-2009/comment-page-1/#comment-6891 Chase Increases Balance Transfer Fee to 5% | Vision Credit Education, Inc. Thu, 16 Jul 2009 13:43:07 +0000 http://www.visioncredit.org/?p=1317#comment-6891 [...] has produced. Even if this occurs, it will not happen before February 2010 as provisions of the CARD Act are [...] [...] has produced. Even if this occurs, it will not happen before February 2010 as provisions of the CARD Act are [...]

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