DISQUS

Edward_Y · 6 months ago

The House of Representatives has passed the so-called “The Credit Cardholder’s Bill of Rights”. HR 5244 also known as The Credit Cardholder’s Bill of Rights imposes certain limitations on credit card institutions and the customers itself. The HR 5244 declared that: First, credit card companies cannot raise their rates without notice in 45 days or above, Second, not to force customers to pay off lower interest charges before higher interest, and last, no retroactive rate hikes allowed. Some says that it will limit credit card access but on the other hand, some says to maintain the practices outlawed are unfair to begin with. Many turn to an installment loans to pay off their credit cards, which is who The Credit Cardholder’s Bill of Rights aims to protect in the first place. To read more, simply click the link: http://personalmoneystore.com/moneyblog/2009/04...