Credit Card Bill Ineffective?

Lawmakers and consumers across the country cheered the adoption of the Credit Cardholders Bill of Rights and other credit card regulations that would seek to end unfair practices on the part of credit card companies. However, several concerned cardholders have now raised the concern that the bill has only forced credit card companies to extract money from customers in trickier ways.
For example, the credit regulations prevent credit card companies from charging a fee if you go over your credit limit. However, credit card companies can still increase interest rates on transactions with a penalty rate due to a late payment, …read more