Paying more than the minimum is the key to paying off any debt faster. But if you’re having trouble coming up with extra money, making smaller, more frequent payments… known as micropayments… may be your answer.
New disclosures required by the FTC must be included in “free credit report” ads beginning Friday, aiming to clear up any confusion about where you can actually get a free credit report.
The new credit cards statements can help you pay off your credit card debt faster by showing you how long it will take and how much extra interest you’ll pay if you only send in the minimum.
No, it wasn’t your imagination. Your bank probably did raise rates and fees prior to submitting to the consumer protections enacted by the new law that went into force on February 22, 2010. And when you see the details, your blood will boil. Especially in light of the fact that taxpayers bailed out some of the same institutions now sticking it their customers.
Most of the attention from the bill has been given to the restrictions on interest rate increases and over the limit fees. However, there are many other lesser-known regulations in the Act that could have far-reaching ramifications for consumers.
This past year has been one of the most turbulent years in the history of the credit card industry for both issuers and cardholders.
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