U.S Federal Government now accepts credit cards
United States citizens have been making cash and check donations to help payoff the Federal Government’s national debt for a long time. Now it’s possible to donate using credit cards. The U.S. Treasury has made it easy to make payments with a Visa, MasterCard, American Express, and Discover credit cards. Some finance experts continue to argue whether or not using personal credit cards to make payments to the government is best since it could become a recipe for future personal debt problems.
Credit card rules aimed to provide relief
Congress passed legislation last year banning many of the worst practices of credit card companies issuing credit cards and ordered the Federal Reserve to issue new rules to ensure that the final rates and other penalties – a source of major abuses – are “reasonable and proportionate.
The final rules were published last month, and there is much to love about them. Gone, for example, are the days when the banks can charge higher fees for late payment due. But the Fed has dropped the ball completely when it refused to adjust interest rates. Credit card issuers will still be able to double or triple the credit card interest rates if the cardholder owes two months in payments.
Credit Card Act of 2009, gave consumers a great relief necessary. It requires companies to give 45 days notice before increasing interest rates, so clients have time to cancel the card. In most cases, prevents credit card companies from raising interest rates on existing balances and prevents them from juggling dates for the penalty shot. It also prohibits credit card companies from issuing cards to minors under 21 without assessing their ability to pay or guarantee signed by an adult. Read more
New rules for credit card companies
Instant Approval Credit Cards
Filed under: Credit, Credit Card Applications, Credit Cards
If you don’t have the time to wait for credit card approval then an instant approval credit card might be the route to take. A lot of people don’t have the time or patience for the dated method of applying for a credit card. Traditionally you have to fill out an application, mail it in, and wait for a letter advising you if you have been approved for a line of credit.What happens when you don’t have the luxury of time to get approved for a credit card? This is where an instant approval card comes in handy. Read more
7 Tips to Avoid Credit Card Fees
Things are always changing in the credit card industry. One of the latest and most widespread trends in the business is the increase of fees and the addition of newly created fees. And let’s face it, credit cards are in the business to make profit – just like any business. They’ve found that people want lower interest rates and more rewards with their credit cards and one of the ways they can deliver those advantages to their customers is by making up the profit in other areas, such as fees. Read more