Comments on: Credit Card Regulation Changes

By: steve

steve — Thu, 17 Jun 2010 14:55:46 +0000

I appreciate the concern which is been rose. The things need to be sorted out because it is about the individual but it can be with everyone.
Credit Cards
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Steve

By: 4 Mistakes to Avoid with Credit Card Cash Advances

4 Mistakes to Avoid with Credit Card Cash Advances — Fri, 27 Nov 2009 16:05:23 +0000

[...] and get a cash advance on that credit card, which has no or minimal other balances. With the new credit card regulation changes, credit card companies will not be able to practice this any longer. After the regulation changes, [...]

By: Manshu

Manshu — Wed, 01 Jul 2009 00:30:26 +0000

Marvin, I don’t think there is anything in the law that stops them from doing what they are doing. In the future, when these credit card regulations kick in, it will be different, but not now.

By: Marvin Smith

Marvin Smith — Tue, 30 Jun 2009 21:21:07 +0000

I recently contacted a credit card company I have a balance with. It has the two APR’s. I asked a CSR with that company if I could pay extra on top of the minimum due to pay off the higher interest rate amount, and was told that all extra payments would only be applied to the lower interest rate amount, even if I requested it differently. I am not up on credit card lingo, laws and what not. Is this legal for them to do? I was always under the impression that if I requested a specific amount payment to a specific charged amount, I was well within my rights to do so.

By: Manshu

Manshu — Wed, 27 May 2009 22:53:03 +0000

Faye, I don’t think they will take away the points that you already have. They may cancel the thing in future but there is really no way to tell how it will end up.

By: Faye Mahan

Faye Mahan — Wed, 27 May 2009 22:46:01 +0000

I am concerned about losing the “points” that I have earned on my credit card that allow me to have free hotel stays. Will I eventually loose them?

By: Manshu

Manshu — Mon, 04 May 2009 17:02:24 +0000

Not yet, but I read reports that it is going to pass very soon (in a few weeks).

I had a friend who paid off a car loan and they called him back after a week to say that he still had to clear off a small balance.

They said that there was a difference between the — balance due, on the date that he had checked how much he had to pay, and the day when he actually paid.
That amount was also quite small and looks like your case is similar to that. I don’t remember whether they waived it off or not. Could be the same type of thing.

By: Kim Woodbridge

Kim Woodbridge — Mon, 04 May 2009 16:09:48 +0000

Did this also pass the Senate? I thought there was some issue that it might not.

But this is very good – I feel that credit card companies are allowed to do too many things that aren’t allowed in other contracts.

I recently paid off a credit card and then received a bill for interest. They told me that the cycle differed from when the payment was due. Is this related to the double billing cycle or just my own misunderstanding? I would think if something is paid by the due date that there wouldn’t be any additional interest. I did, however, convince them to waive it since it was such a small amount.